Princeton Capital Management LLC Purchases 869 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Princeton Capital Management LLC increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 118.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,604 shares of the network technology company’s stock after purchasing an additional 869 shares during the quarter. Princeton Capital Management LLC’s holdings in Palo Alto Networks were worth $292,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Palo Alto Networks during the 3rd quarter worth approximately $29,000. True Wealth Design LLC boosted its stake in Palo Alto Networks by 2,933.3% in the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock valued at $31,000 after acquiring an additional 88 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings in Palo Alto Networks by 97.2% during the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares during the period. Valued Wealth Advisors LLC raised its position in shares of Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 101 shares during the last quarter. Finally, Abound Wealth Management lifted its stake in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $184.79 on Tuesday. The company has a fifty day moving average price of $186.92 and a two-hundred day moving average price of $185.23. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39. The stock has a market cap of $122.35 billion, a P/E ratio of 104.11, a P/E/G ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion during 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%. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PANW shares. Morgan Stanley assumed coverage on Palo Alto Networks in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. KeyCorp boosted their price objective on shares of Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. Scotiabank lifted their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Finally, Citigroup upped their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $205.06.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. This represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by company insiders.

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.