Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Formidable Asset Management LLC

Formidable Asset Management LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 100.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,038 shares of the network technology company's stock after acquiring an additional 2,519 shares during the quarter. Formidable Asset Management LLC's holdings in Palo Alto Networks were worth $917,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PANW. Grassi Investment Management increased its position in Palo Alto Networks by 161.1% during the 4th quarter. Grassi Investment Management now owns 7,910 shares of the network technology company's stock worth $1,439,000 after purchasing an additional 4,880 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in Palo Alto Networks by 100.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 3,296 shares of the network technology company's stock worth $600,000 after buying an additional 1,648 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of Palo Alto Networks by 31.2% in the 4th quarter. Avior Wealth Management LLC now owns 702 shares of the network technology company's stock valued at $128,000 after purchasing an additional 167 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of Palo Alto Networks by 70.3% in the 4th quarter. Inspire Investing LLC now owns 1,420 shares of the network technology company's stock valued at $258,000 after purchasing an additional 586 shares in the last quarter. Finally, New Century Financial Group LLC lifted its stake in shares of Palo Alto Networks by 77.6% in the 4th quarter. New Century Financial Group LLC now owns 1,527 shares of the network technology company's stock valued at $280,000 after purchasing an additional 667 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PANW has been the topic of several recent research reports. Morgan Stanley reduced their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. KeyCorp restated an "overweight" rating and set a $220.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. TD Securities reiterated a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, UBS Group upped their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $206.40.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the transaction, the executive vice president now directly owns 293,010 shares in the company, valued at $55,458,002.70. This represents a 29.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the sale, the chief executive officer now directly owns 317,571 shares of the company's stock, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 568,962 shares of company stock worth $96,933,690 in the last three months. Insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $0.34 on Wednesday, hitting $187.80. 3,853,274 shares of the company's stock were exchanged, compared to its average volume of 5,590,369. The company has a 50-day simple moving average of $178.16 and a 200-day simple moving average of $185.20. The stock has a market capitalization of $125.23 billion, a PE ratio of 105.80, a PEG ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. On average, analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

About Palo Alto Networks

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.