Triglav Skladi D.O.O. Acquires New Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Triglav Skladi D.O.O. acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,000 shares of the network technology company’s stock, valued at approximately $1,092,000.

A number of other hedge funds have also made changes to their positions in the stock. Twinbeech Capital LP increased its stake in shares of Palo Alto Networks by 114.2% during the fourth quarter. Twinbeech Capital LP now owns 288,574 shares of the network technology company’s stock valued at $52,509,000 after acquiring an additional 153,833 shares during the period. Two Sigma Advisers LP bought a new stake in Palo Alto Networks during the fourth quarter worth approximately $73,965,000. Two Sigma Investments LP boosted its holdings in Palo Alto Networks by 54,752.4% during the fourth quarter. Two Sigma Investments LP now owns 407,005 shares of the network technology company’s stock worth $74,059,000 after buying an additional 406,263 shares in the last quarter. Temasek Holdings Private Ltd bought a new stake in Palo Alto Networks during the fourth quarter worth approximately $4,522,000. Finally, Texas Bank & Trust Co bought a new stake in Palo Alto Networks during the fourth quarter worth approximately $948,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW opened at $192.98 on Monday. The company has a market capitalization of $127.77 billion, a PE ratio of 108.72, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The company’s fifty day moving average price is $177.37 and its 200 day moving average price is $185.16.

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

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the sale, the chief executive officer now directly owns 317,571 shares in the company, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated 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 sale, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 568,962 shares of company stock worth $96,933,690 in the last ninety days. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on PANW shares. Citigroup raised their target price on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. JMP Securities raised their price objective on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective on the stock in a research report on Thursday, April 10th. Finally, Jefferies Financial Group lifted their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average target price of $203.46.

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.