Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 516,100 shares of the network technology company’s stock after acquiring an additional 5,450 shares during the period. Primecap Management Co. CA owned about 0.16% of Palo Alto Networks worth $174,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PANW. Sunbelt Securities Inc. boosted its position in Palo Alto Networks by 91.0% during the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock worth $478,000 after purchasing an additional 802 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after buying an additional 198,078 shares in the last quarter. Brookstone Capital Management grew its stake in Palo Alto Networks by 48.4% in the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock valued at $7,502,000 after acquiring an additional 8,611 shares during the last quarter. Wealthspire Advisors LLC raised its position in Palo Alto Networks by 1.7% during the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after acquiring an additional 75 shares during the last quarter. Finally, Connectus Wealth LLC lifted its holdings in shares of Palo Alto Networks by 22.8% in the fourth quarter. Connectus Wealth LLC now owns 43,813 shares of the network technology company’s stock valued at $12,920,000 after purchasing an additional 8,132 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the transaction, the president now owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock valued at $154,029,567 in the last three months. Corporate insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Susquehanna boosted their price target on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Barclays increased their price objective on Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a research note on Monday, August 19th. Finally, Argus raised their price target on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Trading Down 0.2 %

PANW opened at $346.11 on Tuesday. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84. The firm has a market cap of $112.69 billion, a price-to-earnings ratio of 50.31, a PEG ratio of 5.03 and a beta of 1.13. The company has a fifty day simple moving average of $336.38 and a 200 day simple moving average of $312.38.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the firm earned $0.80 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

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.