Global Assets Advisory LLC Makes New Investment in Palo Alto Networks, Inc. (NASDAQ:PANW)

Global Assets Advisory LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 32,972 shares of the network technology company’s stock, valued at approximately $9,368,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Norges Bank acquired a new position in shares of Palo Alto Networks during the fourth quarter worth $1,563,020,000. International Assets Investment Management LLC raised its position in Palo Alto Networks by 29,086.9% in the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after purchasing an additional 2,050,917 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after purchasing an additional 1,187,915 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Palo Alto Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares during the last quarter. Finally, Axiom Investors LLC DE increased its stake in shares of Palo Alto Networks by 359.3% in the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after buying an additional 749,199 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Down 1.1 %

Palo Alto Networks stock traded down $3.65 during midday trading on Monday, hitting $316.68. 3,127,579 shares of the stock were exchanged, compared to its average volume of 4,885,547. The stock has a market capitalization of $102.54 billion, a price-to-earnings ratio of 47.07, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10. Palo Alto Networks, Inc. has a 52-week low of $201.17 and a 52-week high of $380.84. The business’s 50-day moving average price is $301.84 and its 200-day moving average price is $306.17.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The company’s revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In related news, Director John P. Key sold 2,163 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the sale, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 800 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $300.21, for a total value of $240,168.00. Following the sale, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $49,997,573.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the transaction, the director now directly owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The disclosure for this sale can be found here. Insiders sold 258,182 shares of company stock valued at $74,850,597 over the last three months. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Macquarie lifted their target price on shares of Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 21st. Morgan Stanley restated an “overweight” rating and issued a $360.00 price objective on shares of Palo Alto Networks in a report on Wednesday, June 12th. Citigroup upped their price target on Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Finally, Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Twelve equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $324.17.

Get Our Latest Research Report on Palo Alto Networks

About Palo Alto Networks

(Free Report)

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.

Further Reading

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

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