Quantitative Investment Management LLC lifted its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 135.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,700 shares of the network technology company’s stock after acquiring an additional 14,200 shares during the period. Quantitative Investment Management LLC’s holdings in Palo Alto Networks were worth $3,580,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in PANW. Cerebellum GP LLC bought a new position in Palo Alto Networks in the 4th quarter valued at about $127,000. SeaCrest Wealth Management LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at about $192,000. Commerce Bank acquired a new stake in Palo Alto Networks in the 3rd quarter valued at about $221,000. First Mercantile Trust Co. acquired a new stake in Palo Alto Networks in the 4th quarter valued at about $226,000. Finally, ACG Wealth acquired a new stake in Palo Alto Networks in the 4th quarter valued at about $226,000. Institutional investors and hedge funds own 82.12% of the company’s stock.
In other news, Director James J. Goetz sold 78,000 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $146.78, for a total value of $11,448,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 28,000 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $148.08, for a total value of $4,146,240.00. Following the completion of the sale, the executive vice president now owns 1,467,309 shares of the company’s stock, valued at $217,279,116.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 397,980 shares of company stock valued at $62,407,135. 4.80% of the stock is currently owned by corporate insiders.
PANW has been the subject of a number of research analyst reports. Oppenheimer reissued a “buy” rating and issued a $180.00 price target (up from $173.00) on shares of Palo Alto Networks in a report on Tuesday, November 21st. BMO Capital Markets upped their target price on Palo Alto Networks from $170.00 to $190.00 and gave the company a “market perform” rating in a report on Tuesday, February 27th. Zacks Investment Research upgraded Palo Alto Networks from a “sell” rating to a “hold” rating in a report on Thursday, March 8th. Telsey Advisory Group increased their price objective on Palo Alto Networks from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. Finally, Royal Bank of Canada increased their price objective on Palo Alto Networks to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirty-eight have issued a buy rating to the company’s stock. Palo Alto Networks presently has a consensus rating of “Buy” and an average target price of $181.38.
Palo Alto Networks Inc (PANW) opened at $189.01 on Friday. Palo Alto Networks Inc has a twelve month low of $107.31 and a twelve month high of $191.53.
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About Palo Alto Networks
Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.
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