Future Fund LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 119.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,732 shares of the network technology company’s stock after buying an additional 4,751 shares during the quarter. Palo Alto Networks comprises 0.8% of Future Fund LLC’s investment portfolio, making the stock its 29th largest holding. Future Fund LLC’s holdings in Palo Alto Networks were worth $1,787,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in shares of Palo Alto Networks by 147.7% during the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after purchasing an additional 4,031 shares during the period. Bison Wealth LLC lifted its stake in shares of Palo Alto Networks by 169.1% in the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after buying an additional 3,275 shares during the period. Leavell Investment Management Inc. grew its position in Palo Alto Networks by 5.2% during the first quarter. Leavell Investment Management Inc. now owns 4,393 shares of the network technology company’s stock worth $750,000 after buying an additional 217 shares in the last quarter. Allworth Financial LP increased its stake in Palo Alto Networks by 8.3% during the first quarter. Allworth Financial LP now owns 8,716 shares of the network technology company’s stock valued at $1,534,000 after acquiring an additional 666 shares during the period. Finally, Harmony Asset Management LLC raised its holdings in Palo Alto Networks by 3.4% in the 1st quarter. Harmony Asset Management LLC now owns 14,264 shares of the network technology company’s stock valued at $2,434,000 after acquiring an additional 465 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.
Palo Alto Networks Stock Up 0.4%
Shares of PANW stock opened at $212.29 on Friday. The company has a market capitalization of $142.00 billion, a P/E ratio of 132.27, a P/E/G ratio of 5.05 and a beta of 0.95. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $223.61. The firm has a 50-day moving average price of $207.16 and a 200 day moving average price of $195.99.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Palo Alto Networks from $217.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, August 19th. KeyCorp cut Palo Alto Networks from an “overweight” rating to a “sector weight” rating in a research report on Thursday, July 31st. New Street Research lifted their price target on shares of Palo Alto Networks from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Jefferies Financial Group set a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, July 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Friday, August 15th. Thirty investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $218.17.
Check Out Our Latest Stock Report on Palo Alto Networks
Insiders Place Their Bets
In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total value of $1,020,950.00. Following the completion of the transaction, the executive vice president owned 96,135 shares in the company, valued at approximately $19,629,805.65. The trade was a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $217.94, for a total value of $26,321,485.56. Following the sale, the executive vice president owned 356,409 shares in the company, valued at $77,675,777.46. The trade was a 25.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,215,830 shares of company stock valued at $249,160,428. Company insiders own 2.50% of the company’s stock.
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.
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