Shares of Palo Alto Networks, Inc. (NASDAQ:PANW) bought by Parsons Capital Management Inc. countries

Parsons Capital Management Inc. RI increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 4.5% in the second quarter, HoldingsChannel reports. The fund owned 2,695 shares of the network technology company’s stock after acquiring an additional 116 shares during the period. The holdings of Parsons Capital Management Inc. RI’s holdings in Palo Alto Networks were worth $914,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Palo Alto Networks in the fourth quarter valued at $1,563,020,000. Jennison Associates LLC raised its stake in shares of Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after purchasing an additional 1,187,915 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Palo Alto Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after buying an additional 1,058,127 shares during the last quarter. Axiom Investors LLC DE boosted its stake in shares of Palo Alto Networks by 359.3% in the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after buying an additional 749,199 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Palo Alto Networks in the first quarter worth about $177,933,000. 79.82% of shares are currently owned by institutional investors and hedge funds.

Changes in Analyst Ratings

A number of research analysts recently commented on PANW shares. Citigroup upped their target price on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Macquarie raised their target price on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Wedbush reissued an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a report on Friday. Stifel Nicolaus lifted their price target on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, KeyCorp upped their target price on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Moderate Buy” and an average price target of $350.78, according to MarketBeat.

Get the latest stock analysis on PANW

Insider activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $55,791,570. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $55,791,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the sale, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. The disclosure for this sale can be found here. Insiders sold a total of 367,315 shares of company stock worth $118,696,590 over the last quarter. Insiders own 3.30% of the company’s shares.

Palo Alto Networks stock up 6.5%

Shares of PANW stock opened at $365.70 on Tuesday. The stock has a market cap of $118.41 billion, a P/E ratio of 52.94, a P/E/G ratio of 4.48 and a beta of 1.14. Palo Alto Networks, Inc. it has a fifty-two week low of $224.64 and a fifty-two week high of $380.84. The company has a fifty day simple moving average of $327.00 and a 200 day simple moving average of $310.68.

Palo Alto Networks (NASDAQ:PANW – Get Your Free Report ) last posted its earnings results on Monday, August 19th. The networking technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the firm posted EPS of $0.80. The company’s revenue for the quarter was up 12.1% year-over-year. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

About Palo Alto Networks

(Free report)

Palo Alto Networks, Inc. provides cybersecurity solutions worldwide. The company provides firewall devices and software; and Panorama, a security management solution for global control of the network security platform as a virtual or physical appliance. It also offers subscription services covering the areas of threat prevention, malware and persistent threats, URL filtering, laptop and mobile protection, DNS security, Internet of Things security, API SaaS security and inline SaaS security, as well as threat intelligence and data loss prevention.

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Want to see what other hedge funds own PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).

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