Roberts Glore & Co. Inc. IL Purchases 914 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Roberts Glore & Co. Inc. IL boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,828 shares of the network technology company’s stock after buying an additional 914 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Palo Alto Networks were worth $333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PANW. Jennison Associates LLC increased its position in Palo Alto Networks by 83.0% in the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after buying an additional 2,612,474 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Palo Alto Networks by 109.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,202,926 shares of the network technology company’s stock valued at $764,764,000 after purchasing an additional 2,197,765 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Palo Alto Networks during the 4th quarter valued at about $388,155,000. Nordea Investment Management AB boosted its stake in Palo Alto Networks by 199.1% during the 4th quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock valued at $333,925,000 after purchasing an additional 1,213,073 shares during the last quarter. Finally, Swedbank AB boosted its stake in Palo Alto Networks by 107.8% during the 4th quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock valued at $297,450,000 after purchasing an additional 848,127 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was 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 of the company’s stock, valued at $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on PANW. Robert W. Baird lifted their price target on Palo Alto Networks from $212.50 to $217.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Evercore ISI cut their price target on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a research note on Tuesday, December 31st. BMO Capital Markets lifted their price target on Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. HSBC downgraded Palo Alto Networks from a “hold” rating to a “reduce” rating and cut their price target for the company from $152.00 to $145.50 in a research note on Friday, November 22nd. Finally, Hsbc Global Res downgraded Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.06.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $180.93 on Friday. The stock has a market cap of $119.79 billion, a P/E ratio of 101.93, a PEG ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The firm’s fifty day moving average price is $186.05 and its 200-day moving average price is $184.78.

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

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.