Connable Office Inc. Purchases 7,709 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Connable Office Inc. lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 68.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,038 shares of the network technology company’s stock after acquiring an additional 7,709 shares during the quarter. Connable Office Inc.’s holdings in Palo Alto Networks were worth $3,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Tradewinds LLC. grew its stake in Palo Alto Networks by 1.2% in the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after purchasing an additional 28 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in Palo Alto Networks by 9.4% in the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after purchasing an additional 30 shares during the last quarter. Geneva Partners LLC grew its stake in Palo Alto Networks by 0.3% in the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after purchasing an additional 30 shares during the last quarter. Klingman & Associates LLC grew its stake in Palo Alto Networks by 4.2% in the third quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock valued at $256,000 after purchasing an additional 30 shares during the last quarter. Finally, Carr Financial Group Corp grew its stake in Palo Alto Networks by 4.4% in the third quarter. Carr Financial Group Corp now owns 715 shares of the network technology company’s stock valued at $244,000 after purchasing an additional 30 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the transaction, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock valued at $204,315,811 in the last three months. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $190.43 on Friday. The company has a market cap of $126.08 billion, a price-to-earnings ratio of 107.29, a PEG ratio of 5.64 and a beta of 1.14. The stock has a 50 day simple moving average of $186.64 and a 200-day simple moving average of $184.32. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced 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 business 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 anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PANW. BMO Capital Markets lifted their target price on Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. TD Cowen lifted their target price on Palo Alto Networks from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities lifted their target price on Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. KeyCorp boosted their price target on Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Citigroup boosted their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday. Three 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.06.

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.