Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 72.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,418 shares of the network technology company’s stock after acquiring an additional 12,753 shares during the period. Ieq Capital LLC’s holdings in Palo Alto Networks were worth $10,312,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Cascade Investment Group Inc. lifted its position in 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 worth $376,000 after buying an additional 31 shares in the last quarter. Sepio Capital LP boosted its position in shares of Palo Alto Networks by 3.7% during the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock valued at $278,000 after acquiring an additional 34 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in shares of 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 valued at $420,000 after purchasing an additional 34 shares during the period. Pin Oak Investment Advisors Inc. increased its position in Palo Alto Networks by 41.2% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the network technology company’s stock worth $35,000 after purchasing an additional 35 shares during the last quarter. Finally, First County Bank CT increased its position in 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 worth $1,043,000 after purchasing an additional 35 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 1.2 %

Shares of PANW stock opened at $333.60 on Friday. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84. The stock’s 50-day moving average price is $336.32 and its 200 day moving average price is $312.89. The stock has a market capitalization of $108.62 billion, a PE ratio of 48.49, a price-to-earnings-growth ratio of 5.03 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly 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 company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. Analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PANW has been the subject of several analyst reports. Argus increased their price target on shares of Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. 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 report on Wednesday, August 21st. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Wedbush reiterated an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Finally, Susquehanna boosted their price objective on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a report on Thursday, September 5th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $366.08.

Insider Activity

In related news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the sale, the president now owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock valued at $154,029,567 over the last quarter. Corporate insiders own 3.30% 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.