Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 37.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,844 shares of the network technology company’s stock after acquiring an additional 498 shares during the period. Sage Mountain Advisors LLC’s holdings in Palo Alto Networks were worth $625,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PANW. Mather Group LLC. increased its position in shares of Palo Alto Networks by 4.8% during the fourth quarter. Mather Group LLC. now owns 1,759 shares of the network technology company’s stock valued at $519,000 after acquiring an additional 81 shares during the last quarter. Choreo LLC grew its holdings in shares of Palo Alto Networks by 30.9% in the fourth quarter. Choreo LLC now owns 1,976 shares of the network technology company’s stock valued at $583,000 after purchasing an additional 466 shares in the last quarter. Norden Group LLC acquired a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $274,000. Mission Wealth Management LP grew its holdings in shares of Palo Alto Networks by 6.3% in the fourth quarter. Mission Wealth Management LP now owns 2,977 shares of the network technology company’s stock valued at $878,000 after purchasing an additional 176 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Palo Alto Networks by 19.1% in the fourth quarter. Victory Capital Management Inc. now owns 519,291 shares of the network technology company’s stock valued at $153,129,000 after purchasing an additional 83,383 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on PANW. Susquehanna lifted their price objective on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a report on Tuesday, May 21st. Needham & Company LLC lifted their price objective on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Macquarie lifted their price objective on shares of Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Robert W. Baird lifted their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Barclays lifted their price target on shares of Palo Alto Networks from $350.00 to $370.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $364.08.

Palo Alto Networks Stock Up 1.3 %

NASDAQ:PANW opened at $362.72 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $224.64 and a fifty-two week high of $380.84. The firm’s fifty day simple moving average is $333.84 and its 200-day simple moving average is $310.72. The stock has a market cap of $117.45 billion, a PE ratio of 52.72, a price-to-earnings-growth ratio of 4.82 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the firm earned $0.80 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts anticipate that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the sale, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $55,791,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $55,791,570. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the completion of the transaction, the executive vice president now owns 1,259,567 shares in the company, valued at $369,443,596.77. The disclosure for this sale can be found here. Insiders have sold 376,372 shares of company stock worth $121,925,593 in the last three months. Corporate insiders own 3.30% of the company’s stock.

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.