Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1,462.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,596 shares of the network technology company’s stock after acquiring an additional 12,726 shares during the period. Edgestream Partners L.P.’s holdings in Palo Alto Networks were worth $4,609,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PANW. Aveo Capital Partners LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter valued at about $212,000. Gryphon Financial Partners LLC purchased a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $336,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $840,000. PNC Financial Services Group Inc. boosted its stake in shares of Palo Alto Networks by 10.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 65,572 shares of the network technology company’s stock valued at $19,336,000 after purchasing an additional 6,217 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Palo Alto Networks by 92.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,903 shares of the network technology company’s stock valued at $1,151,000 after purchasing an additional 1,877 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PANW has been the subject of a number of recent research reports. Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. KeyCorp boosted their price objective on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Evercore ISI boosted their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein boosted their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird boosted their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.08.

Palo Alto Networks Stock Down 2.4 %

Palo Alto Networks stock opened at $337.93 on Wednesday. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84. The firm’s 50-day simple moving average is $336.41 and its 200 day simple moving average is $312.63. The firm has a market capitalization of $110.03 billion, a PE ratio of 49.12, a P/E/G ratio of 5.03 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the firm earned $0.80 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts expect that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the sale, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $55,791,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total value of $500,202.00. Following the transaction, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 125,866 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares in the company, valued at $55,791,570. The disclosure for this sale can be found here. Insiders have sold 464,075 shares of company stock worth $154,029,567 in the last three months. Corporate insiders own 3.30% of the company’s stock.

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.