Callan Capital LLC Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Callan Capital LLC boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 102.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,227 shares of the network technology company’s stock after purchasing an additional 1,630 shares during the period. Callan Capital LLC’s holdings in Palo Alto Networks were worth $587,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Tradewinds LLC. lifted its holdings in Palo Alto Networks by 1.2% during the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after buying an additional 28 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after buying an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after buying an additional 30 shares during the last quarter. Geneva Partners LLC lifted its holdings in Palo Alto Networks by 0.3% during the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after buying an additional 30 shares during the last quarter. Finally, Klingman & Associates LLC lifted its holdings in Palo Alto Networks by 4.2% during the 3rd quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock worth $256,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,458,864 shares of company stock valued at $269,397,331. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Down 3.9 %

Shares of NASDAQ PANW opened at $191.03 on Friday. The stock has a market capitalization of $126.48 billion, a price-to-earnings ratio of 107.62, a PEG ratio of 5.64 and a beta of 1.14. The stock’s fifty day simple moving average is $187.09 and its 200 day simple moving average is $183.48. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS 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 analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PANW shares. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Stifel Nicolaus raised their price target on Palo Alto Networks from $192.50 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Evercore ISI cut their price target on Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. 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. Finally, Needham & Company LLC raised their price target on Palo Alto Networks from $192.50 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $204.69.

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.