Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Cohen Capital Management Inc.

Cohen Capital Management Inc. grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 110.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,948 shares of the network technology company’s stock after acquiring an additional 1,024 shares during the period. Cohen Capital Management Inc.’s holdings in Palo Alto Networks were worth $354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Investment Management LLC acquired a new stake in Palo Alto Networks during the 4th quarter valued at approximately $160,000. TCW Group Inc. boosted its stake in shares of Palo Alto Networks by 93.7% during the 4th quarter. TCW Group Inc. now owns 1,008,149 shares of the network technology company’s stock valued at $183,443,000 after buying an additional 487,654 shares during the last quarter. Denver PWM LLC grew its position in shares of Palo Alto Networks by 115.5% during the fourth quarter. Denver PWM LLC now owns 666 shares of the network technology company’s stock worth $121,000 after buying an additional 357 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Palo Alto Networks by 92.1% in the fourth quarter. First Horizon Advisors Inc. now owns 4,768 shares of the network technology company’s stock worth $868,000 after buying an additional 2,286 shares during the last quarter. Finally, Pinnacle Financial Partners Inc raised its holdings in Palo Alto Networks by 108.2% in the fourth quarter. Pinnacle Financial Partners Inc now owns 80,235 shares of the network technology company’s stock valued at $14,600,000 after acquiring an additional 41,696 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 99,707 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the completion of the transaction, the executive vice president now owns 358,197 shares in the company, valued at $65,353,042.65. This trade represents a 21.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the sale, the executive vice president now owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. The trade was a 8.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,458,864 shares of company stock worth $269,397,331. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Down 3.9 %

NASDAQ:PANW opened at $191.03 on Friday. The business’s 50-day moving average price is $187.09 and its 200 day moving average price is $183.48. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39. The firm has a market cap of $126.48 billion, a P/E ratio of 107.62, a PEG ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

PANW has been the subject of several recent analyst reports. Susquehanna raised their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. OTR Global reiterated a “negative” rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. Scotiabank upped their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Stifel Nicolaus boosted their price target on Palo Alto Networks from $192.50 to $220.00 and gave the company a “buy” rating in a report on Thursday, November 14th. 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. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.69.

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.