Arrow Capital Pty Ltd Acquires Shares of 9,000 Palo Alto Networks, Inc. (NASDAQ:PANW)

Arrow Capital Pty Ltd bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,000 shares of the network technology company’s stock, valued at approximately $1,638,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC lifted its holdings in Palo Alto Networks by 1.5% in 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 acquiring an additional 1,619 shares during the period. M&T Bank Corp lifted its stake in shares of Palo Alto Networks by 8.6% in the third quarter. M&T Bank Corp now owns 64,737 shares of the network technology company’s stock valued at $22,127,000 after purchasing an additional 5,133 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in Palo Alto Networks by 10.7% during the third quarter. SOA Wealth Advisors LLC. now owns 2,606 shares of the network technology company’s stock worth $891,000 after buying an additional 252 shares in the last quarter. World Investment Advisors LLC grew its position in Palo Alto Networks by 15.1% during the third quarter. World Investment Advisors LLC now owns 8,528 shares of the network technology company’s stock worth $2,915,000 after buying an additional 1,119 shares during the period. Finally, Sfmg LLC lifted its position in shares of Palo Alto Networks by 1.1% during the 3rd quarter. Sfmg LLC now owns 16,836 shares of the network technology company’s stock valued at $5,754,000 after acquiring an additional 189 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 2.2 %

Palo Alto Networks stock opened at $169.76 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $137.60 and a 52-week high of $208.39. The firm has a market capitalization of $112.40 billion, a price-to-earnings ratio of 95.64, a PEG ratio of 5.64 and a beta of 1.07. The firm has a 50-day moving average price of $181.19 and a two-hundred day moving average price of $184.73.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of research reports. Morgan Stanley lowered their price target on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup lifted their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Monday, January 6th. UBS Group upped their target price on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Finally, Evercore ISI reduced their price objective on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $203.91.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 99,707 shares of the firm’s stock in a transaction that occurred 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 owns 358,197 shares of the company’s stock, 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. Insiders have sold a total of 1,039,318 shares of company stock valued at $181,925,602 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

About Palo Alto Networks

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.