Evolutionary Tree Capital Management LLC Acquires 4,168 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Evolutionary Tree Capital Management LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 86.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,976 shares of the network technology company’s stock after acquiring an additional 4,168 shares during the quarter. Palo Alto Networks accounts for about 1.7% of Evolutionary Tree Capital Management LLC’s investment portfolio, making the stock its 26th largest position. Evolutionary Tree Capital Management LLC’s holdings in Palo Alto Networks were worth $1,633,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its position in Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Valued Wealth Advisors LLC grew its position in Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after acquiring an additional 101 shares in the last quarter. Abound Wealth Management increased its stake in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 72 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. boosted its holdings in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity

In other news, CEO Nikesh Arora sold 227,414 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the transaction, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. This trade represents a 41.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 99,707 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the sale, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 939,318 shares of company stock valued at $165,384,602. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PANW shares. Loop Capital decreased their price objective on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Rosenblatt Securities restated a “buy” rating and issued a $235.00 price objective on shares of Palo Alto Networks in a report on Monday, March 31st. BTIG Research cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Morgan Stanley set a $230.00 price objective on Palo Alto Networks in a report on Tuesday, March 18th. Finally, Citigroup upped their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $204.52.

Palo Alto Networks Stock Up 0.0 %

Shares of PANW opened at $168.34 on Friday. Palo Alto Networks, Inc. has a 52-week low of $135.18 and a 52-week high of $208.39. The company has a market cap of $111.46 billion, a PE ratio of 94.84, a P/E/G ratio of 5.64 and a beta of 1.07. The business has a fifty day moving average of $182.29 and a 200 day moving average of $184.79.

Palo Alto Networks (NASDAQ:PANW) last released 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 analysts’ expectations of $2.24 billion. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.