TBH Global Asset Management LLC Lowers Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

TBH Global Asset Management LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 49.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,711 shares of the network technology company’s stock after selling 4,642 shares during the quarter. TBH Global Asset Management LLC’s holdings in Palo Alto Networks were worth $1,389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PANW. Vanguard Group Inc. boosted its holdings in Palo Alto Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock valued at $6,215,410,000 after purchasing an additional 304,272 shares in the last quarter. Norges Bank acquired a new stake in shares of Palo Alto Networks during the 4th quarter valued at approximately $1,563,020,000. Northern Trust Corp lifted its position in shares of Palo Alto Networks by 2.6% during the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock valued at $804,199,000 after acquiring an additional 86,995 shares during the period. Clearbridge Investments LLC lifted its position in shares of Palo Alto Networks by 1.0% during the 4th quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock valued at $924,905,000 after acquiring an additional 30,013 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Palo Alto Networks by 83.1% during the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after acquiring an additional 1,187,915 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research reports. Capital One Financial downgraded shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a research report on Wednesday, February 21st. Oppenheimer reiterated an “outperform” rating and set a $330.00 price target on shares of Palo Alto Networks in a research report on Tuesday. Rosenblatt Securities downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price target for the company from $290.00 to $265.00 in a research report on Wednesday, February 21st. BMO Capital Markets lifted their price target on shares of Palo Alto Networks from $327.00 to $334.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective on Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Twelve analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $317.45.

Read Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Price Performance

NASDAQ PANW traded up $10.16 during trading hours on Friday, hitting $321.60. The company had a trading volume of 4,628,986 shares, compared to its average volume of 5,154,947. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The firm’s 50 day moving average is $289.58 and its 200 day moving average is $299.15. The company has a market capitalization of $104.13 billion, a price-to-earnings ratio of 46.42, a P/E/G ratio of 4.99 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 2.79 EPS for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the sale, the executive vice president now owns 198,105 shares of the company’s stock, valued at $56,327,194.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at approximately $7,629,160. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 278,326 shares of company stock valued at $80,147,130. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Profile

(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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