Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Morningstar Investment Services LLC

Morningstar Investment Services LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 120.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,720 shares of the network technology company’s stock after acquiring an additional 1,485 shares during the quarter. Morningstar Investment Services LLC’s holdings in Palo Alto Networks were worth $804,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PANW. Horizon Family Wealth Inc. boosted its holdings in shares of Palo Alto Networks by 1.1% during the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock worth $726,000 after purchasing an additional 28 shares during the last quarter. MV Capital Management Inc. boosted its stake in Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after buying an additional 29 shares during the last quarter. Manchester Capital Management LLC grew its holdings in Palo Alto Networks by 17.2% in the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after buying an additional 30 shares in the last quarter. Quent Capital LLC increased its stake in shares of Palo Alto Networks by 15.9% in the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock worth $69,000 after acquiring an additional 32 shares during the last quarter. Finally, Parisi Gray Wealth Management raised its holdings in shares of Palo Alto Networks by 2.2% during the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PANW. Rosenblatt Securities lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their target price for the company from $290.00 to $265.00 in a report on Wednesday, February 21st. Sanford C. Bernstein increased their price objective on Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Macquarie raised their target price on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Loop Capital cut Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Wednesday, February 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $322.78.

Get Our Latest Report on PANW

Palo Alto Networks Stock Performance

PANW opened at $301.90 on Friday. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The company has a market cap of $97.76 billion, a P/E ratio of 43.88, a PEG ratio of 4.55 and a beta of 1.10. The business’s 50-day simple moving average is $293.53 and its 200-day simple moving average is $303.21.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last announced its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. As a group, analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the transaction, the executive vice president now owns 1,295,567 shares in the company, valued at $373,434,232.08. The disclosure for this sale can be found here. Insiders have sold 314,897 shares of company stock worth $90,909,807 in the last ninety days. 3.30% of the stock is owned by corporate insiders.

About Palo Alto Networks

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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