Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 6.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 645,192 shares of the network technology company's stock after purchasing an additional 37,498 shares during the period. Palo Alto Networks comprises 2.0% of Penserra Capital Management LLC's holdings, making the stock its 5th biggest holding. Penserra Capital Management LLC owned approximately 0.10% of Palo Alto Networks worth $110,095,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock worth $1,230,000 after purchasing an additional 4,031 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of Palo Alto Networks by 115.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock worth $8,004,000 after purchasing an additional 23,586 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Palo Alto Networks by 215.8% in the 4th quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company's stock worth $440,000 after buying an additional 1,651 shares during the period. Dana Investment Advisors Inc. lifted its holdings in Palo Alto Networks by 98.7% during the 4th quarter. Dana Investment Advisors Inc. now owns 4,622 shares of the network technology company's stock valued at $841,000 after buying an additional 2,296 shares in the last quarter. Finally, One Capital Management LLC lifted its holdings in Palo Alto Networks by 18.8% during the 4th quarter. One Capital Management LLC now owns 3,128 shares of the network technology company's stock valued at $569,000 after buying an additional 494 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $189.27, for a total value of $22,858,894.98. Following the completion of the transaction, the executive vice president owned 293,010 shares in the company, valued at $55,458,002.70. The trade was a 29.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the completion of the sale, the executive vice president owned 3,343,516 shares in the company, valued at approximately $646,502,253.76. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 547,948 shares of company stock worth $103,462,223 over the last three months. Corporate insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 target price on shares of Palo Alto Networks in a research note on Monday, May 19th. Guggenheim reissued a "sell" rating and issued a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Stephens lowered Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Northland Securities dropped their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 21st. Finally, HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Stock Performance

NASDAQ PANW traded up $0.15 on Monday, reaching $201.97. 983,589 shares of the company's stock traded hands, compared to its average volume of 5,386,220. The firm has a market cap of $134.67 billion, a price-to-earnings ratio of 115.42, a P/E/G ratio of 5.63 and a beta of 0.97. The stock has a 50 day moving average price of $193.80 and a 200-day moving average price of $185.39. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period last year, the business earned $0.66 earnings per share. Palo Alto Networks's quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts anticipate 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.