Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by KKM Financial LLC

KKM Financial LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 106.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,718 shares of the network technology company’s stock after buying an additional 11,734 shares during the period. Palo Alto Networks comprises 1.7% of KKM Financial LLC’s investment portfolio, making the stock its 11th largest holding. KKM Financial LLC’s holdings in Palo Alto Networks were worth $4,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC increased its holdings in Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after buying an additional 6,725,148 shares during the last quarter. Norges Bank acquired a new stake in Palo Alto Networks in the fourth quarter valued at $970,736,000. Northern Trust Corp lifted its holdings in Palo Alto Networks by 133.7% during the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock worth $1,427,048,000 after buying an additional 4,486,654 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock worth $1,533,419,000 after acquiring an additional 3,841,359 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the sale, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. The trade was a 27.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction dated 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. The trade was a 41.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 568,962 shares of company stock valued at $96,933,690 over the last 90 days. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PANW shares. 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. Stephens downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Morgan Stanley dropped their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. JMP Securities boosted their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Finally, Scotiabank upped their target price on Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $203.06.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $186.93 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The company has a market capitalization of $123.77 billion, a price-to-earnings ratio of 105.31, a PEG ratio of 5.64 and a beta of 1.02. The stock has a fifty day moving average of $176.07 and a two-hundred day moving average of $184.76.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data 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. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.