Mission Creek Capital Partners Inc. Has $2.41 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mission Creek Capital Partners Inc. boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 103.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,225 shares of the network technology company’s stock after acquiring an additional 6,724 shares during the period. Mission Creek Capital Partners Inc.’s holdings in Palo Alto Networks were worth $2,406,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PANW. Berger Financial Group Inc increased its holdings in Palo Alto Networks by 358.3% in the fourth quarter. Berger Financial Group Inc now owns 7,714 shares of the network technology company’s stock valued at $1,404,000 after purchasing an additional 6,031 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management increased its stake in shares of Palo Alto Networks by 104.6% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 15,308 shares of the network technology company’s stock valued at $2,785,000 after acquiring an additional 7,825 shares during the last quarter. Rinkey Investments acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $733,000. Prosperity Consulting Group LLC boosted its stake in Palo Alto Networks by 114.7% during the 4th quarter. Prosperity Consulting Group LLC now owns 4,247 shares of the network technology company’s stock worth $773,000 after acquiring an additional 2,269 shares during the last quarter. Finally, Wills Financial Group Inc. grew its holdings in Palo Alto Networks by 77.1% during the fourth quarter. Wills Financial Group Inc. now owns 49,878 shares of the network technology company’s stock valued at $9,076,000 after purchasing an additional 21,719 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW opened at $178.98 on Friday. The firm has a market cap of $118.50 billion, a P/E ratio of 100.83, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 52 week low of $142.00 and a 52 week high of $208.39. The firm’s 50-day simple moving average is $176.86 and its 200 day simple moving average is $184.72.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Josh D. Paul sold 700 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the completion of the transaction, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at $65,353,042.65. This represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,039,318 shares of company stock worth $181,925,602 in the last 90 days. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

PANW has been the topic of several analyst reports. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price on the stock in a report on Thursday, April 10th. KeyCorp decreased their target price on Palo Alto Networks from $240.00 to $205.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Citigroup boosted their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Guggenheim downgraded shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $203.06.

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.