TBH Global Asset Management LLC Increases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

TBH Global Asset Management LLC increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 93.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,597 shares of the network technology company’s stock after acquiring an additional 3,667 shares during the period. TBH Global Asset Management LLC’s holdings in Palo Alto Networks were worth $1,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Jessup Wealth Management Inc increased its stake in Palo Alto Networks by 100.0% in the 4th quarter. Jessup Wealth Management Inc now owns 2,392 shares of the network technology company’s stock valued at $435,000 after buying an additional 1,196 shares during the period. ICICI Prudential Asset Management Co Ltd increased its stake in shares of Palo Alto Networks by 102.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 8,545 shares of the network technology company’s stock worth $1,555,000 after acquiring an additional 4,318 shares during the period. Private Advisor Group LLC raised its holdings in Palo Alto Networks by 113.3% during the fourth quarter. Private Advisor Group LLC now owns 81,859 shares of the network technology company’s stock worth $14,895,000 after purchasing an additional 43,480 shares in the last quarter. Good Life Advisors LLC lifted its position in Palo Alto Networks by 57.9% in the fourth quarter. Good Life Advisors LLC now owns 1,167 shares of the network technology company’s stock valued at $212,000 after purchasing an additional 428 shares during the period. Finally, Financial Perspectives Inc boosted its holdings in Palo Alto Networks by 100.0% in the 4th quarter. Financial Perspectives Inc now owns 732 shares of the network technology company’s stock valued at $133,000 after purchasing an additional 366 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. This represents a 31.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nir Zuk sold 336,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the transaction, the executive vice president now owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,458,864 shares of company stock valued at $269,397,331. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Down 1.5 %

Shares of Palo Alto Networks stock opened at $205.19 on Thursday. Palo Alto Networks, Inc. has a twelve month low of $130.04 and a twelve month high of $208.39. The stock has a market cap of $134.65 billion, a price-to-earnings ratio of 115.60, a price-to-earnings-growth ratio of 5.70 and a beta of 1.14. The company has a fifty day moving average price of $187.11 and a 200 day moving average price of $182.68.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Analysts forecast that Palo Alto Networks, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PANW. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a report on Thursday, November 21st. Robert W. Baird raised their target price on Palo Alto Networks from $212.50 to $217.50 and gave the company an “outperform” rating in a report on Thursday, November 21st. Bank of America increased their price target on shares of Palo Alto Networks from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. JMP Securities boosted their price objective on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Finally, StockNews.com cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.70.

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.