Occudo Quantitative Strategies LP Boosts Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Occudo Quantitative Strategies LP increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 994.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,069 shares of the network technology company's stock after purchasing an additional 10,966 shares during the quarter. Occudo Quantitative Strategies LP's holdings in Palo Alto Networks were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SJS Investment Consulting Inc. grew its holdings in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after acquiring an additional 69 shares during the period. Transce3nd LLC purchased a new position in Palo Alto Networks in the fourth quarter worth about $25,000. Valued Wealth Advisors LLC grew its stake in shares of Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after purchasing an additional 101 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Finally, Abound Wealth Management lifted its stake in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 72 shares during the period. 79.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Royal Bank of Canada reiterated an "outperform" rating and set a $225.00 price target on shares of Palo Alto Networks in a research note on Monday, February 10th. Scotiabank boosted their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a research report on Tuesday, January 21st. KeyCorp reduced their price target on 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, Susquehanna lifted their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $203.46.

Palo Alto Networks Stock Up 0.0%

PANW traded up $0.08 on Friday, hitting $192.98. The company had a trading volume of 4,182,191 shares, compared to its average volume of 5,714,844. The business's fifty day simple moving average is $177.09 and its 200 day simple moving average is $185.02. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The company has a market cap of $127.77 billion, a PE ratio of 108.72, a PEG ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion for 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%. On average, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the sale, the chief executive officer now directly owns 317,571 shares of the company's stock, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the executive vice president now directly owns 321,774 shares in the company, valued at $48,629,704.62. The trade was a 27.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 568,962 shares of company stock valued at $96,933,690 in the last quarter. 2.50% of the stock is owned by insiders.

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.