Onefund LLC Purchases 863 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Onefund LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 101.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,713 shares of the network technology company’s stock after buying an additional 863 shares during the period. Onefund LLC’s holdings in Palo Alto Networks were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Nixon Peabody Trust Co. boosted its position in Palo Alto Networks by 99.8% in the 4th quarter. Nixon Peabody Trust Co. now owns 116,626 shares of the network technology company’s stock valued at $21,221,000 after buying an additional 58,244 shares during the period. Middleton & Co. Inc. MA lifted its position in shares of Palo Alto Networks by 101.4% in the 4th quarter. Middleton & Co. Inc. MA now owns 103,604 shares of the network technology company’s stock worth $18,852,000 after purchasing an additional 52,163 shares during the period. Connable Office Inc. lifted its position in shares of Palo Alto Networks by 68.0% in the 4th quarter. Connable Office Inc. now owns 19,038 shares of the network technology company’s stock worth $3,464,000 after purchasing an additional 7,709 shares during the period. Flaharty Asset Management LLC lifted its position in shares of Palo Alto Networks by 165.9% in the 4th quarter. Flaharty Asset Management LLC now owns 2,194 shares of the network technology company’s stock worth $399,000 after purchasing an additional 1,369 shares during the period. Finally, Jacobi Capital Management LLC increased its stake in Palo Alto Networks by 110.6% during the 4th quarter. Jacobi Capital Management LLC now owns 3,546 shares of the network technology company’s stock valued at $645,000 after purchasing an additional 1,862 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PANW. Rosenblatt Securities increased their price objective on shares of Palo Alto Networks from $212.50 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Scotiabank increased their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Monday, February 10th. Bank of America increased their price objective on shares of Palo Alto Networks from $200.00 to $215.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Finally, TD Cowen increased 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 given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.06.

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 235,492 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the sale, the executive vice president now owns 358,197 shares of the company’s stock, valued at $65,353,042.65. This represents a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 over the last 90 days. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $190.43 on Friday. Palo Alto Networks, Inc. has a one year low of $132.50 and a one year high of $208.39. The firm has a 50 day simple moving average of $186.64 and a 200-day simple moving average of $184.32. The firm has a market cap of $126.08 billion, a price-to-earnings ratio of 107.29, a PEG ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) 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 company had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Palo Alto Networks 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.