Edgestream Partners L.P. Takes $3.07 Million Position in Palo Alto Networks, Inc. $PANW

Edgestream Partners L.P. acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,004 shares of the network technology company’s stock, valued at approximately $3,070,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Palo Alto Networks by 2.0% during the second quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock valued at $13,100,311,000 after purchasing an additional 1,240,830 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Palo Alto Networks by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 15,174,029 shares of the network technology company’s stock worth $3,093,262,000 after buying an additional 169,055 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Palo Alto Networks by 16.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,902,048 shares of the network technology company’s stock valued at $1,177,765,000 after buying an additional 950,765 shares in the last quarter. Nuveen LLC bought a new stake in Palo Alto Networks in the first quarter valued at $810,047,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Palo Alto Networks by 1.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,476,638 shares of the network technology company’s stock worth $916,099,000 after acquiring an additional 54,601 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total value of $1,020,950.00. Following the transaction, the executive vice president owned 96,135 shares of the company’s stock, valued at approximately $19,629,805.65. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $189.39, for a total value of $132,573.00. Following the transaction, the chief accounting officer owned 46,805 shares of the company’s stock, valued at $8,864,398.95. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,215,830 shares of company stock worth $249,260,680. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a report on Thursday, November 20th. BMO Capital Markets upped their price objective on shares of Palo Alto Networks from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. Mizuho lifted their target price on shares of Palo Alto Networks from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Guggenheim increased their price target on Palo Alto Networks from $130.00 to $135.00 and gave the stock a “sell” rating in a research report on Tuesday, August 19th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $245.00 price target on shares of Palo Alto Networks in a report on Thursday, November 20th. Thirty investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.09.

Palo Alto Networks Trading Up 1.1%

Palo Alto Networks stock opened at $195.68 on Friday. The company has a market cap of $136.39 billion, a PE ratio of 123.85, a PEG ratio of 4.58 and a beta of 0.79. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $223.61. The company’s 50-day moving average is $206.05 and its two-hundred day moving average is $197.20.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. Palo Alto Networks’s revenue for the quarter was up 15.7% compared to the same quarter last year. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS 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.