6,356 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by JFG Wealth Management LLC

JFG Wealth Management LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,356 shares of the network technology company’s stock, valued at approximately $1,157,000.

Several other large investors also recently modified their holdings of PANW. Geode Capital Management LLC grew its position in shares of Palo Alto Networks by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock valued at $2,609,486,000 after purchasing an additional 220,900 shares during the period. Jennison Associates LLC lifted its stake in Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after buying an additional 2,612,474 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Palo Alto Networks by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock valued at $685,364,000 after buying an additional 31,595 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Palo Alto Networks by 199.1% in the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock valued at $333,925,000 after buying an additional 1,213,073 shares during the period. Finally, Swedbank AB increased its position in shares of Palo Alto Networks by 107.8% during the fourth quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock worth $297,450,000 after acquiring an additional 848,127 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the completion of the transaction, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 in the last quarter. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Down 1.3 %

NASDAQ:PANW opened at $188.01 on Wednesday. The stock has a 50 day simple moving average of $186.59 and a 200 day simple moving average of $184.08. The stock has a market cap of $124.48 billion, a P/E ratio of 105.92, a PEG ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

PANW has been the subject of a number of research analyst reports. Westpark Capital reaffirmed a “hold” rating and issued a $196.40 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price objective on Palo Alto Networks from $208.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets lifted their target price on Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Jefferies Financial Group boosted their target price on Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Morgan Stanley raised their price target on shares of Palo Alto Networks from $223.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.06.

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.