Core Alternative Capital Has $4.77 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Core Alternative Capital grew its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 14,081 shares of the network technology company’s stock after buying an additional 281 shares during the period. Core Alternative Capital’s holdings in Palo Alto Networks were worth $4,774,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Palo Alto Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after acquiring an additional 1,058,127 shares in the last quarter. Swedbank AB acquired a new stake in Palo Alto Networks during the first quarter valued at approximately $177,933,000. Altshuler Shaham Ltd boosted its holdings in Palo Alto Networks by 444,100.0% during the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after purchasing an additional 444,100 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Palo Alto Networks by 8.5% in the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after buying an additional 255,060 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Palo Alto Networks by 63.8% during the 4th quarter. 1832 Asset Management L.P. now owns 640,755 shares of the network technology company’s stock worth $188,946,000 after buying an additional 249,455 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PANW. Royal Bank of Canada upped their price target on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. BTIG Research boosted their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Barclays lifted their price target on shares of Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Oppenheimer upped their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Twelve 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.26.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 66,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the transaction, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 66,666 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the sale, the chief executive officer now owns 639,994 shares in the company, valued at approximately $219,505,142.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 359,732 shares of company stock worth $118,815,557. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Down 0.9 %

Shares of PANW stock opened at $335.75 on Monday. The company has a market capitalization of $109.32 billion, a price-to-earnings ratio of 48.80, a P/E/G ratio of 4.98 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $230.09 and a 12-month high of $380.84. The firm has a fifty day moving average of $337.12 and a 200-day moving average of $315.53.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, equities analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current 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.