Ieq Capital LLC Buys 62,399 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Ieq Capital LLC boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 160.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,321 shares of the network technology company’s stock after buying an additional 62,399 shares during the quarter. Ieq Capital LLC’s holdings in Palo Alto Networks were worth $18,436,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Tradewinds LLC. grew its position in Palo Alto Networks by 1.2% during the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after acquiring an additional 28 shares during the last quarter. Cromwell Holdings LLC grew its position in Palo Alto Networks by 3.0% during the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after acquiring an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after acquiring an additional 30 shares during the last quarter. Geneva Partners LLC grew its position in Palo Alto Networks by 0.3% during the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after acquiring an additional 30 shares during the last quarter. Finally, Klingman & Associates LLC grew its position in Palo Alto Networks by 4.2% during the third quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock valued at $256,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 1.5 %

Shares of NASDAQ:PANW opened at $205.19 on Thursday. The stock has a 50 day moving average of $187.11 and a 200 day moving average of $182.68. The company has a market cap of $134.65 billion, a PE ratio of 115.60, a price-to-earnings-growth ratio of 5.70 and a beta of 1.14. Palo Alto Networks, Inc. has a 12-month low of $130.04 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 directly owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. The trade was a 8.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,458,864 shares of company stock worth $269,397,331. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PANW has been the topic of a number of recent research reports. Rosenblatt Securities increased their price target on shares of Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Hsbc Global Res cut shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. Susquehanna raised their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a report on Tuesday. Finally, OTR Global restated a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.