Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Vicus Capital

Vicus Capital lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 59.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 727 shares of the network technology company’s stock after selling 1,052 shares during the quarter. Vicus Capital’s holdings in Palo Alto Networks were worth $214,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in PANW. Norges Bank bought a new position in shares of Palo Alto Networks during the fourth quarter valued at approximately $751,276,000. International Assets Investment Management LLC increased its position in Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after acquiring an additional 2,050,917 shares during the period. Moneta Group Investment Advisors LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at approximately $204,728,000. T. Rowe Price Investment Management Inc. acquired a new stake in Palo Alto Networks in the 4th quarter valued at approximately $85,025,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Palo Alto Networks by 6,453.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock valued at $102,670,000 after purchasing an additional 431,228 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the sale, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $56,327,194.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the sale, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $56,327,194.65. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,917 shares of company stock worth $49,395,553. Company insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the topic of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $330.00 price target on shares of Palo Alto Networks in a research report on Wednesday, March 13th. JMP Securities reissued a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 21st. BMO Capital Markets decreased their target price on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Finally, Oppenheimer boosted their target price on Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Check Out Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Stock Down 1.2 %

Palo Alto Networks stock opened at $277.71 on Monday. The business has a 50 day moving average price of $295.46 and a two-hundred day moving average price of $291.20. The stock has a market cap of $89.73 billion, a price-to-earnings ratio of 43.39, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

About Palo Alto Networks

(Free Report)

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.

Read More

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

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.