Mmbg Investment Advisors CO. Purchases 3,219 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Mmbg Investment Advisors CO. increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 124.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,798 shares of the network technology company's stock after purchasing an additional 3,219 shares during the period. Mmbg Investment Advisors CO.'s holdings in Palo Alto Networks were worth $1,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its holdings in shares of Palo Alto Networks by 72.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,059 shares of the network technology company's stock worth $1,648,000 after buying an additional 3,820 shares during the last quarter. Czech National Bank grew its stake in shares of Palo Alto Networks by 115.1% in the fourth quarter. Czech National Bank now owns 141,909 shares of the network technology company's stock worth $25,822,000 after acquiring an additional 75,948 shares during the period. Aprio Wealth Management LLC lifted its holdings in Palo Alto Networks by 154.9% during the fourth quarter. Aprio Wealth Management LLC now owns 2,401 shares of the network technology company's stock valued at $437,000 after purchasing an additional 1,459 shares in the last quarter. Green Alpha Advisors LLC grew its stake in shares of Palo Alto Networks by 75.0% in the 4th quarter. Green Alpha Advisors LLC now owns 4,847 shares of the network technology company's stock worth $882,000 after buying an additional 2,078 shares in the last quarter. Finally, Crescent Sterling Ltd. increased its stake in Palo Alto Networks by 102.1% in the 4th quarter. Crescent Sterling Ltd. now owns 1,910 shares of the network technology company's stock worth $348,000 after buying an additional 965 shares during the period. 79.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PANW has been the subject of several recent analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $225.00 price target on shares of Palo Alto Networks in a research note on Monday, February 10th. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a report on Thursday, April 10th. Stephens cut Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Susquehanna upped their target price on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $203.06.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 293,010 shares in the company, valued at approximately $55,458,002.70. This represents a 29.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 568,962 shares of company stock valued at $96,933,690. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $186.93 on Monday. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The business has a fifty day moving average price of $176.07 and a 200 day moving average price of $184.78. The stock has a market capitalization of $123.77 billion, a P/E ratio of 105.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, equities research analysts anticipate 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.

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