Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Cornerstone Enterprises LLC

Cornerstone Enterprises LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,674 shares of the network technology company’s stock after buying an additional 2,690 shares during the quarter. Palo Alto Networks accounts for about 1.3% of Cornerstone Enterprises LLC’s investment portfolio, making the stock its 16th largest position. Cornerstone Enterprises LLC’s holdings in Palo Alto Networks were worth $2,124,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PANW. SJS Investment Consulting Inc. increased its position in shares of Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. Valued Wealth Advisors LLC grew 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 buying an additional 101 shares in the last quarter. Abound Wealth Management increased its holdings 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 during the period. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Palo Alto Networks by 265.0% during the fourth 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 period. Finally, Capital Advisors Ltd. LLC grew its position in Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

PANW has been the topic of a number of research reports. 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 research note on Wednesday, January 8th. Morgan Stanley set a $230.00 price target on Palo Alto Networks in a report on Tuesday, March 18th. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price target on the stock in a research note on Thursday. Loop Capital reduced their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Finally, Guggenheim downgraded shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $204.52.

Palo Alto Networks Stock Up 0.0 %

Shares of Palo Alto Networks stock opened at $168.34 on Friday. Palo Alto Networks, Inc. has a 12-month low of $135.18 and a 12-month high of $208.39. The stock has a market capitalization of $111.46 billion, a P/E ratio of 94.84, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. The company has a 50-day simple moving average of $182.29 and a 200 day simple moving average of $184.79.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data 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 company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, 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 transaction, the executive vice president now owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This represents a 21.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 939,318 shares of company stock valued at $165,384,602. 2.50% of the stock is currently owned by corporate insiders.

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.