Kraft Davis & Associates LLC Sells 47 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Kraft Davis & Associates LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,676 shares of the network technology company’s stock after selling 47 shares during the period. Kraft Davis & Associates LLC’s holdings in Palo Alto Networks were worth $494,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Palo Alto Networks during the 4th quarter valued at approximately $751,276,000. International Assets Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 2,050,917 shares during the period. Moneta Group Investment Advisors LLC purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $204,728,000. T. Rowe Price Investment Management Inc. acquired a new position in Palo Alto Networks in the 4th quarter worth approximately $85,025,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Palo Alto Networks by 6,453.6% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock worth $102,670,000 after buying an additional 431,228 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the sale, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders sold a total of 167,917 shares of company stock worth $49,395,553 over the last 90 days. 3.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Oppenheimer lifted their price objective on Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday. Capital One Financial lowered shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 target price on the stock. in a research note on Wednesday, February 21st. Rosenblatt Securities downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $290.00 to $265.00 in a research note on Wednesday, February 21st. KeyCorp reduced their price target on shares of Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Citigroup lifted their price objective on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Trading Down 1.2 %

NASDAQ:PANW traded down $3.43 during midday trading on Friday, reaching $277.71. The company had a trading volume of 4,748,725 shares, compared to its average volume of 5,585,325. Palo Alto Networks, Inc. has a 12-month low of $176.30 and a 12-month high of $380.84. The firm has a market capitalization of $89.73 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 3.78 and a beta of 1.19. The stock’s fifty day simple moving average is $295.46 and its 200-day simple moving average is $290.40.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.76 EPS for the current 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.