336 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Acquired by Hurley Capital LLC

Hurley Capital LLC purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 336 shares of the network technology company’s stock, valued at approximately $62,000.

Several other institutional investors have also modified their holdings of PANW. First Dallas Securities Inc. raised its position in Palo Alto Networks by 1.4% in the third quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock valued at $728,000 after purchasing an additional 30 shares during the period. RB Capital Management LLC raised its holdings in shares of Palo Alto Networks by 1.5% during the third quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company’s stock valued at $852,000 after acquiring an additional 36 shares during the period. Sunbelt Securities Inc. boosted its position in shares of Palo Alto Networks by 2.2% in the third quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company’s stock worth $676,000 after buying an additional 42 shares during the period. Zega Financial LLC grew its position in Palo Alto Networks by 0.8% during the third quarter. Zega Financial LLC now owns 5,997 shares of the network technology company’s stock valued at $2,050,000 after purchasing an additional 48 shares in the last quarter. Finally, Dorsey Wright & Associates grew its stake in Palo Alto Networks by 0.6% in the third quarter. Dorsey Wright & Associates now owns 9,853 shares of the network technology company’s stock valued at $3,368,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the transaction, the executive vice president now directly owns 365,856 shares in the company, valued at approximately $65,744,323.20. This trade represents a 24.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. The trade was a 41.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,114,786 shares of company stock worth $200,426,637 in the last quarter. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

PANW stock opened at $153.57 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $132.83 and a fifty-two week high of $208.39. The stock’s 50 day simple moving average is $185.60 and its 200 day simple moving average is $185.22. The company has a market cap of $101.68 billion, a P/E ratio of 86.52, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PANW shares. Barclays reduced their price target on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. BTIG Research cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Royal Bank of Canada reissued an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Finally, StockNews.com lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $204.27.

About Palo Alto Networks

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.