Transcend Capital Advisors LLC Has $1.45 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Transcend Capital Advisors LLC lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,919 shares of the network technology company’s stock after purchasing an additional 369 shares during the period. Transcend Capital Advisors LLC’s holdings in Palo Alto Networks were worth $1,451,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Palo Alto Networks by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock worth $6,215,410,000 after buying an additional 304,272 shares during the last quarter. Northern Trust Corp raised its stake in Palo Alto Networks by 2.6% during the third quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock worth $804,199,000 after buying an additional 86,995 shares during the last quarter. Jennison Associates LLC raised its stake in Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after buying an additional 1,187,915 shares during the last quarter. International Assets Investment Management LLC raised its stake in Palo Alto Networks by 29,086.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after buying an additional 2,050,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Palo Alto Networks by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,662,820 shares of the network technology company’s stock worth $389,832,000 after buying an additional 36,859 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,917 shares of company stock valued at $49,395,553. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $2.63 on Friday, reaching $291.42. 2,246,512 shares of the company traded hands, compared to its average volume of 3,487,617. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84. The company has a 50 day moving average of $287.61 and a 200 day moving average of $292.35. The firm has a market capitalization of $94.16 billion, a PE ratio of 45.53, a PEG ratio of 3.96 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PANW. Evercore ISI lifted their target price on shares of Palo Alto Networks from $315.00 to $405.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Capital One Financial downgraded shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a research note on Wednesday, February 21st. Barclays decreased their price target on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Finally, Oppenheimer lifted their price target on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $314.82.

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.