Bridgefront Capital LLC Has $256,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bridgefront Capital LLC increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 71.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,561 shares of the network technology company’s stock after purchasing an additional 650 shares during the quarter. Bridgefront Capital LLC’s holdings in Palo Alto Networks were worth $256,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. bought a new position in Palo Alto Networks in the 2nd quarter worth approximately $28,000. Worth Asset Management LLC bought a new position in Palo Alto Networks in the 1st quarter worth approximately $26,000. Covestor Ltd increased its position in Palo Alto Networks by 61.8% in the 1st quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock worth $35,000 after buying an additional 21 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in Palo Alto Networks in the 2nd quarter worth approximately $37,000. Finally, Salem Investment Counselors Inc. increased its position in Palo Alto Networks by 1,071.4% in the 2nd quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock worth $41,000 after buying an additional 75 shares during the period. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group lifted their price target on Palo Alto Networks from $205.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Palo Alto Networks from $165.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Jefferies Financial Group boosted their price objective on Palo Alto Networks from $195.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. KeyCorp boosted their price objective on Palo Alto Networks from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, February 22nd. Finally, Mizuho boosted their price objective on Palo Alto Networks from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Five research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.77.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $189.77 on Friday. The stock has a 50 day moving average price of $165.71 and a 200 day moving average price of $162.37. Palo Alto Networks, Inc. has a 52 week low of $132.22 and a 52 week high of $213.63. The stock has a market capitalization of $57.43 billion, a PE ratio of 2,587.89, a price-to-earnings-growth ratio of 4.94 and a beta of 1.16.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 26,625 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $138.46, for a total transaction of $3,686,497.50. Following the completion of the transaction, the executive vice president now directly owns 1,882,898 shares of the company’s stock, valued at $260,706,057.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Nir Zuk sold 26,625 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $138.46, for a total value of $3,686,497.50. Following the completion of the sale, the executive vice president now directly owns 1,882,898 shares of the company’s stock, valued at $260,706,057.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 15,639 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $135.88, for a total value of $2,125,027.32. Following the completion of the sale, the executive vice president now directly owns 619,266 shares of the company’s stock, valued at $84,145,864.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,644 shares of company stock valued at $27,482,009. Insiders own 3.90% of the company’s stock.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.