Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 230.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,023 shares of the network technology company’s stock after buying an additional 41,175 shares during the quarter. Jones Financial Companies Lllp’s holdings in Palo Alto Networks were worth $10,740,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PANW. Mainstream Capital Management LLC acquired a new stake in shares of Palo Alto Networks during the third quarter worth about $1,156,000. Harvest Portfolios Group Inc. purchased a new stake in Palo Alto Networks during the 3rd quarter worth approximately $24,414,000. Jennison Associates LLC lifted its holdings in Palo Alto Networks by 50.1% during the 3rd quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock worth $1,075,718,000 after buying an additional 1,050,173 shares in the last quarter. Swiss National Bank boosted its position in Palo Alto Networks by 0.5% in the 3rd quarter. Swiss National Bank now owns 961,000 shares of the network technology company’s stock valued at $328,470,000 after buying an additional 4,400 shares during the period. Finally, Chartwell Investment Partners LLC acquired a new position in shares of Palo Alto Networks in the third quarter worth $3,844,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PANW shares. Hsbc Global Res lowered Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. Northland Securities reissued a “market perform” rating and set a $185.00 price objective (up from $175.00) on shares of Palo Alto Networks in a research report on Thursday, November 21st. Loop Capital cut their target price on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Guggenheim downgraded shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target for the company. in a research note on Monday, January 6th. Finally, Oppenheimer reiterated an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.06.

Palo Alto Networks Stock Down 3.5 %

NASDAQ PANW opened at $183.68 on Tuesday. The stock has a market capitalization of $121.61 billion, a P/E ratio of 103.48, a P/E/G ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The firm has a 50-day moving average price of $186.55 and a 200 day moving average price of $184.63.

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

Insiders Place Their Bets

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

About Palo Alto Networks

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.