Pine Valley Investments Ltd Liability Co Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Pine Valley Investments Ltd Liability Co raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 98.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,944 shares of the network technology company’s stock after purchasing an additional 964 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Palo Alto Networks were worth $354,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Swedbank AB raised its position in Palo Alto Networks by 19.7% during the 3rd quarter. Swedbank AB now owns 786,574 shares of the network technology company’s stock worth $268,851,000 after buying an additional 129,371 shares during the last quarter. Howard Capital Management Group LLC raised its holdings in shares of Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock worth $36,316,000 after purchasing an additional 1,619 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Palo Alto Networks by 14.2% during the third quarter. Nisa Investment Advisors LLC now owns 66,217 shares of the network technology company’s stock valued at $22,633,000 after purchasing an additional 8,246 shares during the period. MONECO Advisors LLC lifted its position in Palo Alto Networks by 15.1% during the third quarter. MONECO Advisors LLC now owns 791 shares of the network technology company’s stock valued at $270,000 after purchasing an additional 104 shares during the period. Finally, Jacobsen Capital Management purchased a new stake in Palo Alto Networks in the third quarter valued at $222,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 99,707 shares of the business’s 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 sale, the executive vice president now owns 358,197 shares in the company, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 235,492 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. This trade represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock worth $204,315,811 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. Morgan Stanley boosted their price target on Palo Alto Networks from $223.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. JMP Securities raised their price objective on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. Hsbc Global Res cut shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 22nd. Finally, BMO Capital Markets raised their price target on shares of Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.06.

Palo Alto Networks Trading Up 0.8 %

Shares of PANW opened at $189.55 on Thursday. The company’s 50-day moving average price is $186.60 and its 200 day moving average price is $184.12. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The firm has a market cap of $125.50 billion, a P/E ratio of 106.79, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14.

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

Palo Alto Networks 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.