Pinebridge Investments L.P. Has $52.34 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Pinebridge Investments L.P. grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 37.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 287,623 shares of the network technology company’s stock after purchasing an additional 78,136 shares during the period. Pinebridge Investments L.P.’s holdings in Palo Alto Networks were worth $52,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after purchasing an additional 6,725,148 shares during the period. Capital Research Global Investors raised its position in shares of Palo Alto Networks by 83.8% in the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after purchasing an additional 3,841,359 shares during the period. Jennison Associates LLC lifted its stake in shares of 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 worth $1,048,033,000 after buying an additional 2,612,474 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Palo Alto Networks by 59.3% during the 4th quarter. Legal & General Group Plc now owns 5,552,888 shares of the network technology company’s stock worth $1,010,403,000 after buying an additional 2,067,838 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 2.2 %

NASDAQ PANW opened at $163.63 on Wednesday. The company has a market cap of $108.34 billion, a price-to-earnings ratio of 92.19, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a twelve month low of $140.81 and a twelve month high of $208.39. The business’s fifty day moving average is $178.56 and its 200 day moving average is $184.75.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 99,707 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the completion of the sale, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,039,318 shares of company stock valued at $181,925,602 over the last 90 days. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PANW has been the subject of several recent analyst reports. StockNews.com downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. BTIG Research downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Hsbc Global Res upgraded shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Susquehanna raised their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research report on Tuesday, February 18th. Finally, HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $203.06.

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.