Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 396,374 shares of the network technology company’s stock after purchasing an additional 198,155 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Palo Alto Networks worth $72,124,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC increased its stake in Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock valued at $36,316,000 after purchasing an additional 1,619 shares during the last quarter. United Bank lifted its position in shares of Palo Alto Networks by 1.3% in the 3rd quarter. United Bank now owns 6,835 shares of the network technology company’s stock worth $2,336,000 after buying an additional 90 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Palo Alto Networks by 35.4% during the 3rd quarter. Fisher Asset Management LLC now owns 2,592 shares of the network technology company’s stock valued at $886,000 after buying an additional 677 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Palo Alto Networks by 22.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 2,582 shares of the network technology company’s stock valued at $882,000 after buying an additional 481 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Palo Alto Networks by 69.3% in the third quarter. Brown Brothers Harriman & Co. now owns 5,249 shares of the network technology company’s stock worth $1,794,000 after acquiring an additional 2,149 shares during 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 related news, CEO Nikesh Arora sold 235,492 shares of Palo Alto Networks stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. This trade represents a 17.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the completion of the transaction, the executive vice president now directly owns 358,197 shares in the company, valued at approximately $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. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 in the last quarter. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PANW shares. Barclays lowered their target price on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Susquehanna increased their target price on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research report on Tuesday, February 18th. Evercore ISI reduced their price target on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday, December 31st. Morgan Stanley began coverage on shares of Palo Alto Networks in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Finally, StockNews.com lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Three research 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.06.

Palo Alto Networks Stock Up 2.8 %

Shares of NASDAQ:PANW opened at $189.95 on Wednesday. The company has a market cap of $125.77 billion, a P/E ratio of 107.01, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The company’s fifty day moving average is $187.31 and its two-hundred day moving average is $185.38. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current 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.