Delta Accumulation LLC Increases Stock Position in Palo Alto Networks, Inc. $PANW

Delta Accumulation LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 11,000.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,770 shares of the network technology company’s stock after acquiring an additional 7,700 shares during the period. Palo Alto Networks accounts for approximately 0.1% of Delta Accumulation LLC’s portfolio, making the stock its 14th largest position. Delta Accumulation LLC’s holdings in Palo Alto Networks were worth $1,590,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PANW. Vanguard Group Inc. grew its stake in Palo Alto Networks by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock worth $13,100,311,000 after buying an additional 1,240,830 shares during the last quarter. Geode Capital Management LLC lifted its stake in Palo Alto Networks by 1.1% in the second quarter. Geode Capital Management LLC now owns 15,174,029 shares of the network technology company’s stock valued at $3,093,262,000 after buying an additional 169,055 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Palo Alto Networks by 41.9% in the first quarter. Goldman Sachs Group Inc. now owns 7,235,406 shares of the network technology company’s stock valued at $1,234,650,000 after acquiring an additional 2,134,735 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Palo Alto Networks by 16.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,902,048 shares of the network technology company’s stock worth $1,177,765,000 after acquiring an additional 950,765 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Palo Alto Networks during the first quarter worth approximately $810,047,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

PANW has been the subject of several research reports. Evercore ISI upped their price target on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Northland Securities upped their target price on shares of Palo Alto Networks from $177.00 to $190.00 and gave the company a “market perform” rating in a report on Thursday, November 20th. Robert W. Baird increased their target price on shares of Palo Alto Networks from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Morgan Stanley raised their price target on Palo Alto Networks from $216.00 to $228.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Finally, Tigress Financial started coverage on Palo Alto Networks in a research note on Friday, September 26th. They set a “buy” rating and a $245.00 price objective for the company. Thirty research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.09.

Palo Alto Networks Stock Up 2.7%

Shares of NASDAQ:PANW opened at $190.32 on Friday. Palo Alto Networks, Inc. has a 52 week low of $144.15 and a 52 week high of $223.61. The company has a 50-day moving average price of $207.00 and a 200 day moving average price of $197.21. The company has a market cap of $132.65 billion, a P/E ratio of 120.45, a PEG ratio of 4.38 and a beta of 0.95.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the business posted $1.56 EPS. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. Analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $219.97, for a total value of $153,979.00. Following the completion of the transaction, the chief accounting officer owned 47,505 shares in the company, valued at $10,449,674.85. This trade represents a 1.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $191.11, for a total transaction of $23,081,119.14. Following the completion of the sale, the executive vice president owned 177,954 shares of the company’s stock, valued at $34,008,788.94. This trade represents a 40.43% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,215,130 shares of company stock valued at $249,031,488. Company insiders own 1.40% of the company’s stock.

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.