Alpha Cubed Investments LLC Boosts Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Alpha Cubed Investments LLC raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,462 shares of the network technology company's stock after acquiring an additional 16,055 shares during the quarter. Palo Alto Networks makes up 2.9% of Alpha Cubed Investments LLC's portfolio, making the stock its 7th biggest position. Alpha Cubed Investments LLC owned 0.06% of Palo Alto Networks worth $52,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Webster Bank N. A. raised its holdings in shares of Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company's stock worth $29,000 after purchasing an additional 85 shares during the period. Cedar Mountain Advisors LLC raised its holdings in shares of Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company's stock worth $30,000 after purchasing an additional 47 shares during the period. MV Capital Management Inc. raised its holdings in shares of Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company's stock worth $32,000 after purchasing an additional 29 shares during the period. First Pacific Financial raised its holdings in shares of Palo Alto Networks by 421.7% during the third quarter. First Pacific Financial now owns 120 shares of the network technology company's stock worth $28,000 after purchasing an additional 97 shares during the period. Finally, Byrne Asset Management LLC raised its holdings in shares of Palo Alto Networks by 277.8% during the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company's stock worth $32,000 after purchasing an additional 100 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PANW shares. Redburn Atlantic increased their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, March 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $350.00 price objective on shares of Palo Alto Networks in a report on Wednesday, April 17th. Sanford C. Bernstein started coverage on shares of Palo Alto Networks in a report on Thursday, January 18th. They issued an "outperform" rating on the stock. Evercore ISI increased their price objective on shares of Palo Alto Networks from $315.00 to $405.00 and gave the stock an "outperform" rating in a report on Friday, January 26th. Finally, KeyCorp dropped their price objective on shares of Palo Alto Networks from $380.00 to $355.00 and set an "overweight" rating on the stock in a report on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $314.82.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded down $2.52 during trading hours on Tuesday, hitting $290.89. The company had a trading volume of 3,170,945 shares, compared to its average volume of 5,366,852. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84. The firm's fifty day moving average is $286.15 and its 200-day moving average is $292.81. The firm has a market capitalization of $93.99 billion, a P/E ratio of 46.00, a price-to-earnings-growth ratio of 3.96 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Analysts anticipate that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other news, President William D. Jenkins, Jr. sold 1,867 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company's stock, valued at approximately $7,230,715.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the sale, the executive vice president now owns 174,075 shares of the company's stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. In the last three months, insiders sold 122,917 shares of company stock valued at $33,959,203. Company insiders own 3.30% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.