Intech Investment Management LLC Purchases 925 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Intech Investment Management LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 18.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,882 shares of the network technology company’s stock after acquiring an additional 925 shares during the quarter. Intech Investment Management LLC’s holdings in Palo Alto Networks were worth $1,994,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Cascade Investment Group Inc. raised its holdings in shares of Palo Alto Networks by 2.9% during the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after purchasing an additional 31 shares during the period. Sheets Smith Wealth Management boosted its holdings in Palo Alto Networks by 2.4% in the first quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after acquiring an additional 34 shares in the last quarter. Pin Oak Investment Advisors Inc. grew its stake in Palo Alto Networks by 41.2% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the network technology company’s stock valued at $35,000 after acquiring an additional 35 shares during the period. First County Bank CT increased its holdings in shares of Palo Alto Networks by 1.0% during the fourth quarter. First County Bank CT now owns 3,537 shares of the network technology company’s stock valued at $1,043,000 after acquiring an additional 35 shares in the last quarter. Finally, Western Financial Corp CA raised its position in shares of Palo Alto Networks by 1.3% during the second quarter. Western Financial Corp CA now owns 2,704 shares of the network technology company’s stock worth $917,000 after purchasing an additional 35 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $344.17 on Tuesday. The firm has a fifty day moving average price of $336.46 and a two-hundred day moving average price of $313.98. The company has a market cap of $111.44 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 5.04 and a beta of 1.13. Palo Alto Networks, Inc. has a one year low of $224.64 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. Equities research analysts expect that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on PANW. TD Cowen boosted their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI upped their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. JMP Securities reiterated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Bank of America increased their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Barclays lifted their target price on Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The disclosure for this sale can be found here. Insiders sold a total of 464,075 shares of company stock valued at $154,029,567 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

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.