Rogco LP Acquires 1,786 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Rogco LP boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 99.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,576 shares of the network technology company’s stock after acquiring an additional 1,786 shares during the quarter. Rogco LP’s holdings in Palo Alto Networks were worth $651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new position in Palo Alto Networks in the 3rd quarter valued at about $1,156,000. Harvest Portfolios Group Inc. acquired a new position in shares of Palo Alto Networks in the third quarter valued at approximately $24,414,000. Jennison Associates LLC increased its stake in shares of Palo Alto Networks by 50.1% during the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock worth $1,075,718,000 after purchasing an additional 1,050,173 shares during the period. Swiss National Bank lifted its holdings in Palo Alto Networks by 0.5% during the 3rd quarter. Swiss National Bank now owns 961,000 shares of the network technology company’s stock worth $328,470,000 after purchasing an additional 4,400 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in Palo Alto Networks by 15.0% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 40,173 shares of the network technology company’s stock valued at $13,731,000 after purchasing an additional 5,250 shares during the period. Institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. OTR Global reissued a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. Citigroup cut their price objective on shares of Palo Alto Networks from $216.00 to $205.00 and set a “buy” rating for the company in a report on Friday, January 17th. TD Cowen raised their target price on shares of Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Piper Sandler boosted their price target on Palo Alto Networks from $165.00 to $192.50 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Finally, Guggenheim cut Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Monday, January 6th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.70.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $208.28 on Wednesday. The firm has a 50 day moving average price of $186.84 and a two-hundred day moving average price of $182.29. Palo Alto Networks, Inc. has a 52-week low of $130.04 and a 52-week high of $208.35. The firm has a market cap of $136.67 billion, a price-to-earnings ratio of 54.24, a PEG ratio of 5.36 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 32.99% and a return on equity of 23.36%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 120,000 shares of the business’s 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 in the company, valued at $65,744,323.20. The trade was a 24.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the firm’s 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 $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,458,864 shares of company stock valued at $269,397,331 over the last 90 days. Company insiders own 2.50% 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.