Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Lyell Wealth Management LP

Lyell Wealth Management LP grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,227 shares of the network technology company’s stock after acquiring an additional 4,620 shares during the quarter. Palo Alto Networks accounts for approximately 2.4% of Lyell Wealth Management LP’s investment portfolio, making the stock its 6th biggest position. Lyell Wealth Management LP’s holdings in Palo Alto Networks were worth $21,298,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PANW. Vanguard Group Inc. grew its position in Palo Alto Networks by 1.2% in the third quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock valued at $6,215,410,000 after acquiring an additional 304,272 shares during the last quarter. Northern Trust Corp grew its position in shares of Palo Alto Networks by 2.6% in the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock valued at $804,199,000 after buying an additional 86,995 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Palo Alto Networks by 83.1% in the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after acquiring an additional 1,187,915 shares during the period. International Assets Investment Management LLC increased its position in Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after purchasing an additional 2,050,917 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Palo Alto Networks by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,662,820 shares of the network technology company’s stock worth $389,832,000 after buying an additional 36,859 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PANW shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, April 17th. Oppenheimer boosted their target price on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Capital One Financial downgraded shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a research note on Wednesday, February 21st. Wedbush increased their price objective on shares of Palo Alto Networks from $350.00 to $425.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, Sanford C. Bernstein started coverage on Palo Alto Networks in a research report on Thursday, January 18th. They issued an “outperform” rating for the company. Eleven research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares in the company, valued at $67,955,958.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. Insiders have sold 167,917 shares of company stock worth $49,395,553 over the last 90 days. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $0.33 during mid-day trading on Wednesday, hitting $293.82. The stock had a trading volume of 2,841,432 shares, compared to its average volume of 5,497,601. The firm has a market cap of $94.93 billion, a P/E ratio of 45.91, a price-to-earnings-growth ratio of 3.84 and a beta of 1.19. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84. The business has a 50 day moving average price of $290.67 and a two-hundred day moving average price of $291.86.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Equities research analysts predict that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

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.