Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,361 shares of the network technology company's stock after purchasing an additional 8,339 shares during the quarter. Public Sector Pension Investment Board's holdings in Palo Alto Networks were worth $17,638,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PANW. Rehmann Capital Advisory Group boosted its holdings in shares of Palo Alto Networks by 106.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock valued at $433,000 after acquiring an additional 1,226 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Palo Alto Networks by 10.8% in the 1st quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock valued at $2,410,000 after acquiring an additional 1,374 shares during the last quarter. Diligent Investors LLC boosted its holdings in shares of Palo Alto Networks by 100.0% in the 4th quarter. Diligent Investors LLC now owns 3,430 shares of the network technology company's stock valued at $624,000 after acquiring an additional 1,715 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Palo Alto Networks by 8.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 137,663 shares of the network technology company's stock valued at $23,491,000 after acquiring an additional 10,180 shares during the last quarter. Finally, Shorepoint Capital Partners LLC boosted its holdings in shares of Palo Alto Networks by 108.4% in the 4th quarter. Shorepoint Capital Partners LLC now owns 20,898 shares of the network technology company's stock valued at $3,803,000 after acquiring an additional 10,868 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 526 shares of Palo Alto Networks stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the sale, the director directly owned 8,632 shares in the company, valued at $1,640,080. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $171.58, for a total transaction of $20,722,402.92. Following the sale, the executive vice president owned 206,718 shares of the company's stock, valued at approximately $35,468,674.44. This represents a 36.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 669,248 shares of company stock valued at $126,423,337. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PANW shares. TD Securities reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Northland Securities lowered their price target on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a report on Wednesday, May 21st. Roth Capital initiated coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $217.07.

Palo Alto Networks Trading Up 0.7%

Palo Alto Networks stock opened at $168.17 on Tuesday. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $210.39. The stock has a market cap of $112.14 billion, a P/E ratio of 96.10, a PEG ratio of 3.96 and a beta of 0.94. The company has a 50-day moving average price of $193.70 and a 200 day moving average price of $186.78.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm 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 revenue was up 15.3% compared to the same quarter last year. As a group, analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Company Profile

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.

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