Truvestments Capital LLC Has $1.11 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Truvestments Capital LLC grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 138.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,081 shares of the network technology company’s stock after acquiring an additional 3,535 shares during the period. Truvestments Capital LLC’s holdings in Palo Alto Networks were worth $1,106,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PANW. Jennison Associates LLC grew its holdings in shares of Palo Alto Networks by 83.0% during the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after buying an additional 2,612,474 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Palo Alto Networks by 109.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,202,926 shares of the network technology company’s stock worth $764,764,000 after acquiring an additional 2,197,765 shares during the period. Raymond James Financial Inc. bought a new stake in Palo Alto Networks in the fourth quarter worth about $388,155,000. Nordea Investment Management AB raised its position in shares of Palo Alto Networks by 199.1% in the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock valued at $333,925,000 after purchasing an additional 1,213,073 shares during the period. Finally, Swedbank AB raised its position in shares of Palo Alto Networks by 107.8% in the fourth quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock valued at $297,450,000 after purchasing an additional 848,127 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 2.9 %

Shares of PANW stock opened at $178.93 on Wednesday. The company has a 50 day moving average price of $185.78 and a 200-day moving average price of $184.83. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39. The firm has a market capitalization of $118.47 billion, a PE ratio of 100.81, a P/E/G ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PANW shares. Royal Bank of Canada reissued an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a research report on Monday, February 10th. Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target on the stock. in a research report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $223.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Scotiabank boosted their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, KeyCorp boosted their price target on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 490,723 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the sale, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 over the last three months. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks 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.