Cable Hill Partners LLC Buys Shares of 1,170 Palo Alto Networks, Inc. (NASDAQ:PANW)

Cable Hill Partners LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, HoldingsChannel reports. The fund bought 1,170 shares of the network technology company’s stock, valued at approximately $213,000.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Palo Alto Networks by 3.0% in the third quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock valued at $2,609,486,000 after acquiring an additional 220,900 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Palo Alto Networks by 83.0% during the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after buying an additional 2,612,474 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Palo Alto Networks by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock worth $685,364,000 after buying an additional 31,595 shares during the period. Nordea Investment Management AB lifted its stake in shares of Palo Alto Networks by 199.1% during the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock worth $333,925,000 after buying an additional 1,213,073 shares during the period. Finally, Swedbank AB lifted its stake in shares of Palo Alto Networks by 107.8% during the fourth quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock worth $297,450,000 after buying an additional 848,127 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 1.1 %

PANW opened at $187.50 on Friday. The firm has a market capitalization of $124.14 billion, a PE ratio of 105.63, a PEG ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The firm’s 50-day moving average price is $186.57 and its 200 day moving average price is $184.14.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several research reports. Jefferies Financial Group lifted their price objective on shares of Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Rosenblatt Securities lifted their price objective on shares of Palo Alto Networks from $212.50 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Oppenheimer reiterated an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a research note on Thursday, November 21st. Westpark Capital reiterated a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Finally, Scotiabank boosted their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $205.06.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 176,242 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $180.04, for a total value of $31,730,609.68. Following the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $195,596,176.16. The trade was a 13.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the transaction, the executive vice president now owns 358,197 shares in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by insiders.

Palo Alto Networks 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.