TBH Global Asset Management LLC Purchases 10,525 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

TBH Global Asset Management LLC grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 138.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,122 shares of the network technology company's stock after acquiring an additional 10,525 shares during the period. Palo Alto Networks accounts for approximately 0.3% of TBH Global Asset Management LLC's investment portfolio, making the stock its 28th biggest holding. TBH Global Asset Management LLC's holdings in Palo Alto Networks were worth $3,092,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after purchasing an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after purchasing an additional 6,725,148 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares in the last quarter. Northern Trust Corp lifted its position in Palo Alto Networks by 133.7% in the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after acquiring an additional 4,486,654 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Palo Alto Networks by 17.6% in the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock valued at $1,324,387,000 after acquiring an additional 1,088,631 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.9%

Shares of PANW stock traded down $1.77 during trading hours on Friday, hitting $200.57. 5,339,865 shares of the company were exchanged, compared to its average volume of 5,395,844. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The stock has a market capitalization of $133.74 billion, a price-to-earnings ratio of 114.61, a P/E/G ratio of 5.60 and a beta of 0.97. The firm has a fifty day simple moving average of $190.70 and a 200 day simple moving average of $185.33.

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 for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business earned $0.66 EPS. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 795,536 shares of company stock worth $141,007,618. Corporate insiders own 2.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. TD Securities reaffirmed a "buy" rating and issued a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Guggenheim reaffirmed a "sell" rating and issued a $130.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Barclays dropped their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price target on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Finally, Roth Capital assumed coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 price target on the stock. Two equities research 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, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks 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.