Denver PWM LLC Invests $160,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Denver PWM LLC acquired a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 472 shares of the network technology company’s stock, valued at approximately $160,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares during the last quarter. Norges Bank acquired a new position in shares of Palo Alto Networks during the 4th quarter worth $1,563,020,000. Clearbridge Investments LLC raised its holdings in Palo Alto Networks by 1.0% during the fourth quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock valued at $924,905,000 after buying an additional 30,013 shares in the last quarter. Jennison Associates LLC lifted its holdings in Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Palo Alto Networks by 8.7% in the fourth quarter. Franklin Resources Inc. now owns 1,710,943 shares of the network technology company’s stock valued at $504,523,000 after purchasing an additional 137,514 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palo Alto Networks

In related news, Director John P. Key sold 2,163 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the transaction, the director now directly owns 12,639 shares in the company, valued at $3,860,076.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the transaction, the director now owns 12,639 shares in the company, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 339,572 shares of company stock worth $111,126,265. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Morgan Stanley lifted their price objective on Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Argus increased their price objective on shares of Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. DA Davidson boosted their price target on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Sanford C. Bernstein boosted their price target on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Trading Down 0.7 %

PANW stock opened at $343.74 on Friday. The stock has a market cap of $111.30 billion, a PE ratio of 49.96, a price-to-earnings-growth ratio of 5.29 and a beta of 1.13. The stock has a 50-day moving average price of $335.88 and a two-hundred day moving average price of $310.69. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Palo Alto Networks Company 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.