Nemes Rush Group LLC Buys 1,352 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Nemes Rush Group LLC boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 103.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,664 shares of the network technology company’s stock after acquiring an additional 1,352 shares during the period. Nemes Rush Group LLC’s holdings in Palo Alto Networks were worth $485,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Palo Alto Networks during the 3rd quarter valued at $29,000. SJS Investment Consulting Inc. raised its holdings in Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after acquiring an additional 69 shares during the period. Valued Wealth Advisors LLC lifted its position in shares of Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 101 shares in the last quarter. Abound Wealth Management boosted its stake in shares of Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after acquiring an additional 72 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC grew its position in shares of Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 106 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, CEO Nikesh Arora sold 176,242 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $180.04, for a total value of $31,730,609.68. Following the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $195,596,176.16. This represents a 13.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the sale, the executive vice president now owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Up 0.4 %

Shares of PANW opened at $171.31 on Wednesday. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The stock has a fifty day simple moving average of $187.01 and a two-hundred day simple moving average of $185.46. The company has a market capitalization of $113.42 billion, a PE ratio of 96.51, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 14.64% and a return on equity of 21.93%. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on PANW shares. Westpark Capital reissued a “hold” rating and issued a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. KeyCorp upped their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Barclays reduced their price target on shares of Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Evercore ISI dropped their price objective on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday, December 31st. Finally, Stephens assumed coverage on Palo Alto Networks in a research report on Tuesday. They set an “equal weight” rating and a $205.00 price objective for the company. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.27.

About Palo Alto Networks

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.