MGO One Seven LLC Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

MGO One Seven LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 115.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,569 shares of the network technology company's stock after purchasing an additional 26,598 shares during the period. MGO One Seven LLC's holdings in Palo Alto Networks were worth $9,020,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Pinebridge Investments L.P. boosted its stake in Palo Alto Networks by 37.3% in the fourth quarter. Pinebridge Investments L.P. now owns 287,623 shares of the network technology company's stock valued at $52,336,000 after buying an additional 78,136 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Palo Alto Networks by 104.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,074 shares of the network technology company's stock valued at $398,689,000 after buying an additional 1,118,122 shares during the last quarter. Alta Advisers Ltd boosted its position in Palo Alto Networks by 142.7% during the 4th quarter. Alta Advisers Ltd now owns 2,184 shares of the network technology company's stock worth $397,000 after buying an additional 1,284 shares during the period. Archon Partners LLC grew its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Archon Partners LLC now owns 30,030 shares of the network technology company's stock worth $5,464,000 after acquiring an additional 15,015 shares during the last quarter. Finally, FSA Wealth Management LLC increased its position in Palo Alto Networks by 46.2% in the 4th quarter. FSA Wealth Management LLC now owns 1,174 shares of the network technology company's stock valued at $214,000 after acquiring an additional 371 shares during the period. Institutional investors own 79.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Citigroup increased their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, February 25th. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research report on Monday, March 31st. KeyCorp decreased their price objective on shares of Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, JMP Securities increased their price objective on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average target price of $203.06.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the sale, the chief accounting officer now owns 47,976 shares in the company, valued at $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,039,318 shares of company stock valued at $181,925,602. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 1.7 %

Shares of PANW traded up $2.94 during trading hours on Friday, reaching $178.98. 3,534,449 shares of the stock traded hands, compared to its average volume of 5,823,934. The company has a market cap of $118.50 billion, a price-to-earnings ratio of 100.83, a PEG ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 52 week low of $142.00 and a 52 week high of $208.39. The stock has a fifty day simple moving average of $176.86 and a 200 day simple moving average of $184.72.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal 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.