RMR Wealth Builders Has $310,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

RMR Wealth Builders boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 170.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,890 shares of the network technology company’s stock after purchasing an additional 1,192 shares during the quarter. RMR Wealth Builders’ holdings in Palo Alto Networks were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of Palo Alto Networks by 239.8% during the third quarter. Jennison Associates LLC now owns 2,171,621 shares of the network technology company’s stock worth $355,690,000 after buying an additional 1,532,582 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Palo Alto Networks by 198.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 939,768 shares of the network technology company’s stock valued at $153,925,000 after acquiring an additional 625,326 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Palo Alto Networks by 4,028.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 486,708 shares of the network technology company’s stock valued at $79,718,000 after purchasing an additional 474,919 shares during the period. New York State Common Retirement Fund boosted its position in shares of Palo Alto Networks by 189.2% in the 3rd quarter. New York State Common Retirement Fund now owns 672,645 shares of the network technology company’s stock worth $110,173,000 after purchasing an additional 440,061 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Palo Alto Networks by 3,935.7% during the third quarter. National Bank of Canada FI now owns 446,146 shares of the network technology company’s stock worth $73,192,000 after purchasing an additional 435,091 shares during the period. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PANW shares. Cowen reissued a “buy” rating and issued a $207.00 target price on shares of Palo Alto Networks in a research note on Friday, November 18th. StockNews.com started coverage on shares of Palo Alto Networks in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. UBS Group lifted their price target on shares of Palo Alto Networks to $190.00 in a research report on Monday, November 21st. Redburn Partners began coverage on shares of Palo Alto Networks in a research report on Thursday, December 1st. They issued a “buy” rating and a $270.00 price objective for the company. Finally, Credit Suisse Group decreased their target price on Palo Alto Networks from $228.33 to $225.00 and set an “outperform” rating for the company in a research note on Friday, November 18th. Five investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $227.52.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 15,639 shares of the business’s stock in a transaction that occurred on Tuesday, January 10th. The stock was 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 in the company, valued at $84,145,864.08. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Lee Klarich sold 15,639 shares of the firm’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $135.88, for a total value of $2,125,027.32. Following the transaction, the executive vice president now owns 619,266 shares in the company, valued at $84,145,864.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aparna Bawa sold 714 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $170.98, for a total transaction of $122,079.72. Following the sale, the director now directly owns 4,272 shares of the company’s stock, valued at approximately $730,426.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 262,580 shares of company stock valued at $42,294,778. 3.90% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Down 0.9 %

NASDAQ:PANW opened at $157.24 on Wednesday. The stock has a 50 day simple moving average of $151.66 and a 200 day simple moving average of $164.06. The stock has a market cap of $47.23 billion, a P/E ratio of -321.56, a PEG ratio of 6.54 and a beta of 1.15. Palo Alto Networks, Inc. has a 1-year low of $132.22 and a 1-year high of $213.63.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last released its quarterly earnings results on Thursday, November 17th. The network technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Palo Alto Networks had a negative net margin of 2.46% and a negative return on equity of 5.02%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.55 billion. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 0.77 EPS for the current year.

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.