Gitterman Wealth Management LLC Buys Shares of 1,350 Palo Alto Networks, Inc. (NASDAQ:PANW)

Gitterman Wealth Management LLC bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,350 shares of the network technology company’s stock, valued at approximately $398,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Palo Alto Networks by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock valued at $6,215,410,000 after buying an additional 304,272 shares during the period. Northern Trust Corp boosted its position in shares of Palo Alto Networks by 2.6% during the third quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock valued at $804,199,000 after buying an additional 86,995 shares during the period. Jennison Associates LLC boosted its position in shares of Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after buying an additional 1,187,915 shares during the period. International Assets Investment Management LLC boosted its position in shares of Palo Alto Networks by 29,086.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after buying an additional 2,050,917 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Palo Alto Networks by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,662,820 shares of the network technology company’s stock valued at $389,832,000 after buying an additional 36,859 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock valued at $49,395,553 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

NASDAQ:PANW traded up $2.63 during mid-day trading on Friday, hitting $291.42. The company’s stock had a trading volume of 2,246,512 shares, compared to its average volume of 3,487,617. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84. The stock has a market cap of $94.16 billion, a price-to-earnings ratio of 45.53, a PEG ratio of 3.96 and a beta of 1.19. The business’s fifty day moving average is $287.61 and its two-hundred day moving average is $292.35.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Analysts anticipate that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PANW. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a report on Wednesday, April 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a report on Wednesday, March 13th. Wedbush boosted their price target on Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Barclays lowered their price target on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $314.82.

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.