Denver PWM LLC Grows Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Denver PWM LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 115.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 666 shares of the network technology company’s stock after acquiring an additional 357 shares during the quarter. Denver PWM LLC’s holdings in Palo Alto Networks were worth $121,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock valued at $2,609,486,000 after purchasing an additional 220,900 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Palo Alto Networks by 83.0% during the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after purchasing an additional 2,612,474 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Palo Alto Networks by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock valued at $685,364,000 after purchasing an additional 31,595 shares in the last quarter. Nordea Investment Management AB boosted its stake in Palo Alto Networks by 199.1% during the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock worth $333,925,000 after acquiring an additional 1,213,073 shares in the last quarter. Finally, Swedbank AB boosted its stake in Palo Alto Networks by 107.8% during the fourth quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock worth $297,450,000 after acquiring an additional 848,127 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 336,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at $705,730,831.62. This trade represents a 8.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction on Monday, January 6th. The shares were 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 owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,458,864 shares of company stock worth $269,397,331 over the last 90 days. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PANW has been the subject of several recent analyst reports. BTIG Research cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on shares of Palo Alto Networks from $208.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Westpark Capital reissued a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. HSBC cut shares of Palo Alto Networks from a “hold” rating to a “reduce” rating and decreased their price objective for the company from $152.00 to $145.50 in a report on Friday, November 22nd. Finally, TD Cowen boosted their price objective on shares of Palo Alto Networks from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $204.69.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $191.03 on Friday. The firm has a fifty day moving average price of $187.09 and a 200 day moving average price of $183.48. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The firm has a market cap of $126.48 billion, a price-to-earnings ratio of 107.62, a P/E/G ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.