Nuveen Asset Management LLC Has $1.12 Billion Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Nuveen Asset Management LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 98.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,158,580 shares of the network technology company’s stock after purchasing an additional 3,047,625 shares during the period. Nuveen Asset Management LLC owned about 0.94% of Palo Alto Networks worth $1,120,615,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PANW. Occudo Quantitative Strategies LP boosted its stake in Palo Alto Networks by 994.2% in the 4th quarter. Occudo Quantitative Strategies LP now owns 12,069 shares of the network technology company’s stock valued at $2,196,000 after buying an additional 10,966 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Palo Alto Networks during the fourth quarter valued at $257,000. OMERS ADMINISTRATION Corp boosted its stake in shares of Palo Alto Networks by 142.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 26,718 shares of the network technology company’s stock valued at $4,862,000 after purchasing an additional 15,683 shares in the last quarter. Obermeyer Wealth Partners grew its holdings in shares of Palo Alto Networks by 104.8% in the 4th quarter. Obermeyer Wealth Partners now owns 3,094 shares of the network technology company’s stock worth $563,000 after purchasing an additional 1,583 shares during the last quarter. Finally, MayTech Global Investments LLC increased its position in shares of Palo Alto Networks by 106.6% during the 4th quarter. MayTech Global Investments LLC now owns 187,202 shares of the network technology company’s stock worth $34,063,000 after purchasing an additional 96,602 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 0.8%

Palo Alto Networks stock opened at $192.00 on Wednesday. The company has a 50 day moving average of $176.51 and a 200-day moving average of $184.90. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The stock has a market capitalization of $127.12 billion, a PE ratio of 108.17, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

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, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the topic of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a research report on Monday, February 10th. Hsbc Global Res upgraded shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Jefferies Financial Group decreased their price target on Palo Alto Networks from $240.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Rosenblatt Securities reaffirmed a “buy” rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Monday, March 31st. Finally, Loop Capital reduced their price objective on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.06.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the sale, the executive vice president now owns 293,010 shares of the company’s stock, valued at $55,458,002.70. The trade was a 29.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares of the company’s stock, valued at approximately $586,132,981.56. This trade represents a 2.74% decrease in their position. 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 in the last quarter. 2.50% of the stock is currently owned by 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.