Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by RB Capital Management LLC

RB Capital Management LLC raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,541 shares of the network technology company’s stock after purchasing an additional 36 shares during the quarter. RB Capital Management LLC’s holdings in Palo Alto Networks were worth $749,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PANW. MV Capital Management Inc. lifted its position in Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares during the period. Quent Capital LLC grew its position in Palo Alto Networks by 15.9% in the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after acquiring an additional 32 shares during the last quarter. Parisi Gray Wealth Management boosted its holdings in Palo Alto Networks by 2.2% in the fourth quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock valued at $448,000 after acquiring an additional 33 shares during the last quarter. Argonautica Private Wealth Management Inc. boosted its holdings in shares of Palo Alto Networks by 2.3% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock worth $450,000 after buying an additional 34 shares in the last quarter. Finally, Howard Financial Services LTD. raised its position in shares of Palo Alto Networks by 3.4% during the fourth quarter. Howard Financial Services LTD. now owns 1,061 shares of the network technology company’s stock worth $313,000 after purchasing an additional 35 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 1.2 %

NASDAQ PANW traded down $3.55 on Wednesday, reaching $287.34. The stock had a trading volume of 2,980,534 shares, compared to its average volume of 5,331,736. Palo Alto Networks, Inc. has a 12-month low of $176.30 and a 12-month high of $380.84. The stock has a fifty day moving average price of $284.64 and a two-hundred day moving average price of $293.04. The firm has a market capitalization of $92.84 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 3.99 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders have sold 122,917 shares of company stock valued at $33,959,203 over the last quarter. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Capital One Financial cut Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target on the stock. in a research note on Wednesday, February 21st. Citigroup upped their price objective on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective on the stock. in a research report on Wednesday, February 21st. Susquehanna reduced their price target on Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a report on Monday, February 26th. Finally, Evercore ISI raised their price objective on Palo Alto Networks from $315.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Eleven analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.82.

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.