Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 16,921 shares of the network technology company’s stock after buying an additional 1,366 shares during the quarter. Palo Alto Networks comprises approximately 3.2% of Pursue Wealth Partners LLC’s investment portfolio, making the stock its 9th biggest position. Pursue Wealth Partners LLC’s holdings in Palo Alto Networks were worth $4,990,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PANW. International Assets Investment Management LLC grew its position in Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after acquiring an additional 2,050,917 shares during the last quarter. Jennison Associates LLC grew its position in Palo Alto Networks by 83.1% during the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after acquiring an additional 1,187,915 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in Palo Alto Networks by 6,453.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock worth $102,670,000 after acquiring an additional 431,228 shares during the last quarter. Railway Pension Investments Ltd grew its position in Palo Alto Networks by 463.5% during the 3rd quarter. Railway Pension Investments Ltd now owns 493,053 shares of the network technology company’s stock worth $115,591,000 after acquiring an additional 405,553 shares during the last quarter. Finally, Mirova US LLC acquired a new position in Palo Alto Networks during the 4th quarter worth about $106,638,000. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Barclays decreased their price objective on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Scotiabank decreased their price objective on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 21st. Oppenheimer boosted their price objective on Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a report on Monday, January 29th. Eleven analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 167,917 shares of company stock worth $49,395,553. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $2.63 during midday trading on Friday, hitting $291.42. The company had a trading volume of 2,246,512 shares, compared to its average volume of 3,487,617. The stock has a market capitalization of $94.16 billion, a P/E ratio of 45.53, a P/E/G ratio of 3.96 and a beta of 1.19. The company has a 50 day moving average of $287.61 and a 200 day moving average of $292.35. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. Equities research analysts forecast that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

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.