Cynosure Group LLC Acquires 366 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Cynosure Group LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 32.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,488 shares of the network technology company’s stock after purchasing an additional 366 shares during the period. Cynosure Group LLC’s holdings in Palo Alto Networks were worth $271,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. raised its holdings in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after buying an additional 69 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 101 shares during the period. Abound Wealth Management boosted its stake in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in shares of Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. StockNews.com cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Susquehanna increased their price target 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. Barclays cut their price objective on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Stephens initiated coverage on Palo Alto Networks in a research note on Tuesday. They issued an “equal weight” rating and a $205.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $190.00 price target (down from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $204.27.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 176,242 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at approximately $195,596,176.16. This trade represents a 13.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 sale, the executive vice president now directly owns 358,197 shares in the company, 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 90 days, insiders sold 1,114,786 shares of company stock valued at $200,426,637. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $153.57 on Friday. The firm has a market cap of $101.68 billion, a price-to-earnings ratio of 86.52, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The stock’s 50-day moving average is $185.60 and its 200-day moving average is $185.10. Palo Alto Networks, Inc. has a one year low of $132.63 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating 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 return on equity of 21.93% and a net margin of 14.64%. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS 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.