712 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Bought by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 712 shares of the network technology company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also made changes to their positions in PANW. Norges Bank purchased a new position in shares of Palo Alto Networks in the 4th quarter valued at about $751,276,000. Moneta Group Investment Advisors LLC acquired a new stake in Palo Alto Networks during the fourth quarter worth approximately $204,728,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $85,025,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Palo Alto Networks by 6,453.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock valued at $102,670,000 after buying an additional 431,228 shares during the last quarter. Finally, Railway Pension Investments Ltd raised its stake in Palo Alto Networks by 463.5% during the 3rd quarter. Railway Pension Investments Ltd now owns 493,053 shares of the network technology company’s stock worth $115,591,000 after acquiring an additional 405,553 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares in the company, valued at $56,327,194.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, March 11th. The shares were sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $56,327,194.65. The disclosure for this sale can be found here. Insiders have sold a total of 143,153 shares of company stock valued at $44,107,332 over the last quarter. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

PANW traded up $1.69 during midday trading on Thursday, reaching $283.95. 2,079,884 shares of the company’s stock were exchanged, compared to its average volume of 5,997,088. The business’s 50-day moving average price is $320.33 and its 200 day moving average price is $286.10. The stock has a market capitalization of $91.74 billion, a PE ratio of 44.31, a P/E/G ratio of 3.91 and a beta of 1.21. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.22. 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 36.58% and a net margin of 30.24%. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on PANW shares. Northland Securities lowered Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective on the stock. in a report on Wednesday, February 21st. Capital One Financial lowered Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target on the stock. in a research report on Wednesday, February 21st. The Goldman Sachs Group increased their price objective on Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. KeyCorp reduced their price target on shares of Palo Alto Networks from $390.00 to $380.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Finally, Oppenheimer lowered their price objective on shares of Palo Alto Networks from $310.00 to $305.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

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.