Hunter Associates Investment Management LLC acquired Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating ) trimmed its position in by 17.4% during the 4th quarter, according to its most recent filing with the SEC. During this period, the company sold 865 shares and owned 4,006 shares of the network technology company. Hunter Associates Investment Management LLC’s holdings in Palo Alto Networks were worth $561,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Palo Alto Networks by 150.3% during the third quarter. Vanguard Group Inc. now owns 19,223,780 shares of the network technology company’s stock valued at $3,148,664,000 after purchasing an additional 11,544,319 shares in the last quarter. First Trust Advisors LP boosted its holdings in Palo Alto Networks by 171.2% during the third quarter. First Trust Advisors LP now owns 2,434,431 shares of the network technology company’s stock worth $398,735,000 after purchasing an additional 1,536,744 shares in the last quarter. Jennison Associates LLC boosted its holdings in Palo Alto Networks by 239.8% in the third quarter. Jennison Associates LLC now owns 2,171,621 shares of the network technology company’s stock valued at $355,690,000 after buying an additional 1,532,582 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Palo Alto Networks by 199.5% during the third quarter. Canada Pension Plan Investment Board now owns 2,197,356 shares of the network technology company’s stock worth $359,905,000 after buying an additional 1,463,568 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in Palo Alto Networks by 408.6% during the third quarter. Two Sigma Advisers LP now owns 1,813,506 shares of the network technology company’s stock worth $297,034,000 after buying an additional 1,456,904 shares in the last quarter. Institutional investors and hedge funds own 81.82% of the company’s shares.
Analyzer upgrades and downgrades
Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Palo Alto Networks from $165.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, February 22nd. Barclays upped their price target on shares of Palo Alto Networks from $215.00 to $227.00 and gave the company an “overweight” rating in a report on Wednesday, February 22nd. Royal Bank of Canada upped their price target on shares of Palo Alto Networks from $200.00 to $216.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Mizuho boosted their price target on shares of Palo Alto Networks from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, February 22nd. Finally, BMO Capital Markets upped their price target on shares of Palo Alto Networks from $220.00 to $228.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Five analysts have rated the company’s stock with a hold rating and thirty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Moderate Buy” and a consensus price target of $221.92, based on data from MarketBeat.com.
Palo Alto Networks stock rose 0.8%
Shares of Palo Alto Networks stock traded up $1.57 during trading hours on Friday, hitting $199.44. The company’s stock had a trading volume of 3,777,231 shares compared to its average volume of 2,683,553. Palo Alto Networks, Inc. has a 1 year low of $132.22 and a 1 year high of $213.63. The business has a fifty day moving average of $185.15 and a 200 day moving average of $166.60. The company has a market capitalization of $60.35 billion, a PE ratio of 2,719.76, a P/E/G ratio of 5.24 and a beta of 1.18.
Internal transactions on the Palo Alto network
In other news, EVP Lee Klarich sold 45,000 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $185.82, for a total value of $8,361,900.00. Following the completion of the sale, the executive vice president now owns 612,745 shares of the company’s stock, valued at $113,860,275.90. The transaction was disclosed in a document filed with the Securities and Exchange Commission, available through this hyperlink. In other news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $185.82, for a total value of $8,361,900.00. Following the completion of the transaction, the executive vice president now directly owns 612,745 shares in the company, valued at $113,860,275.90. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available through the SEC website. Similarly, the owner Aparna Bawa has sold 555 shares of the company in the transaction on Tuesday 14th of Chait. The shares were sold at an average price of $184.59, for a total transaction of $102,447.45. Following the completion of the transaction, the director now owns 5,223 shares of the company’s stock, valued at $964,113.57. Disclosures for this sale can be found here. Insiders have sold 176,580 shares of company stock valued at $33,641,330 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.
About Palo Alto Networks
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Palo Alto Networks, Inc. is engaged in the provision of network security solutions to enterprises, service providers, and government organizations. It operates through the following geographies: United States, Israel, and other countries. The company was founded in March 2005 by Nir Zuk and is headquartered in Santa Clara, CA.
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