Rinkey Investments Acquires Shares of 4,030 Palo Alto Networks, Inc. (NASDAQ:PANW)

Rinkey Investments bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,030 shares of the network technology company's stock, valued at approximately $733,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Howard Capital Management Group LLC lifted its stake in shares of Palo Alto Networks by 1.5% in the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company's stock worth $36,316,000 after acquiring an additional 1,619 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in shares of Palo Alto Networks by 10.7% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 2,606 shares of the network technology company's stock worth $891,000 after buying an additional 252 shares in the last quarter. World Investment Advisors LLC grew its position in shares of Palo Alto Networks by 15.1% during the 3rd quarter. World Investment Advisors LLC now owns 8,528 shares of the network technology company's stock worth $2,915,000 after buying an additional 1,119 shares during the period. Sfmg LLC increased its stake in shares of Palo Alto Networks by 1.1% in the 3rd quarter. Sfmg LLC now owns 16,836 shares of the network technology company's stock valued at $5,754,000 after acquiring an additional 189 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Palo Alto Networks during the 3rd quarter valued at $2,642,000. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Trading Down 0.3 %

Shares of NASDAQ PANW traded down $0.48 during midday trading on Wednesday, hitting $186.17. The company's stock had a trading volume of 1,681,125 shares, compared to its average volume of 5,795,231. The stock has a fifty day moving average price of $176.14 and a 200 day moving average price of $184.70. The firm has a market capitalization of $123.26 billion, a price-to-earnings ratio of 104.89, a P/E/G ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a one year low of $142.00 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the subject of a number of research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Evercore ISI reduced their price target on shares of Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a report on Tuesday, December 31st. Citigroup raised their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Westpark Capital restated a "hold" rating and issued a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $190.00 price target (down from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $203.06.

Insider Activity at Palo Alto Networks

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

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.