Crosslink Capital Inc. Raises Position in Palo Alto Networks Inc (PANW)

Crosslink Capital Inc. boosted its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,718 shares of the network technology company’s stock after purchasing an additional 20,228 shares during the period. Palo Alto Networks comprises 8.9% of Crosslink Capital Inc.’s portfolio, making the stock its 3rd largest holding. Crosslink Capital Inc.’s holdings in Palo Alto Networks were worth $31,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PANW. Vanguard Group Inc. raised its position in Palo Alto Networks by 1.2% in the third quarter. Vanguard Group Inc. now owns 7,709,183 shares of the network technology company’s stock worth $1,736,571,000 after acquiring an additional 94,743 shares during the period. Vanguard Group Inc raised its position in Palo Alto Networks by 1.2% in the third quarter. Vanguard Group Inc now owns 7,709,183 shares of the network technology company’s stock worth $1,736,571,000 after acquiring an additional 94,743 shares during the period. Renaissance Technologies LLC raised its position in Palo Alto Networks by 24.8% in the third quarter. Renaissance Technologies LLC now owns 4,651,200 shares of the network technology company’s stock worth $1,047,729,000 after acquiring an additional 925,500 shares during the period. Canada Pension Plan Investment Board raised its position in Palo Alto Networks by 10.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,607,673 shares of the network technology company’s stock worth $362,144,000 after acquiring an additional 146,447 shares during the period. Finally, Morgan Stanley raised its position in Palo Alto Networks by 5.4% in the third quarter. Morgan Stanley now owns 1,433,131 shares of the network technology company’s stock worth $322,827,000 after acquiring an additional 73,391 shares during the period. Institutional investors own 79.66% of the company’s stock.

In related news, EVP Nir Zuk sold 30,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $234.44, for a total transaction of $7,033,200.00. Following the completion of the sale, the executive vice president now owns 990,860 shares in the company, valued at approximately $232,297,218.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 7,500 shares of Palo Alto Networks stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $241.11, for a total transaction of $1,808,325.00. Following the sale, the executive vice president now owns 310,620 shares of the company’s stock, valued at approximately $74,893,588.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 210,652 shares of company stock valued at $45,891,526. 3.10% of the stock is owned by corporate insiders.

Several analysts have recently commented on the stock. UBS Group raised their price objective on shares of Palo Alto Networks from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, February 20th. Robert W. Baird restated a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, February 27th. Deutsche Bank raised their price objective on shares of Palo Alto Networks from $265.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. BMO Capital Markets raised their price objective on shares of Palo Alto Networks from $240.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. They noted that the move was a valuation call. Finally, Wedbush raised their price objective on shares of Palo Alto Networks from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $267.37.

PANW stock opened at $242.50 on Wednesday. Palo Alto Networks Inc has a 12 month low of $160.08 and a 12 month high of $260.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.87 and a quick ratio of 1.87. The stock has a market cap of $22.59 billion, a P/E ratio of -440.91, a PEG ratio of 11.54 and a beta of 0.86.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Tuesday, February 26th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.29. Palo Alto Networks had a negative net margin of 3.47% and a positive return on equity of 4.69%. The firm had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $682.32 million. During the same period in the previous year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, research analysts expect that Palo Alto Networks Inc will post 0.89 earnings per share for the current year.

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About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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