TCG Advisory Services LLC Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

TCG Advisory Services LLC acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,291 shares of the network technology company’s stock, valued at approximately $4,804,000.

A number of other large investors also recently modified their holdings of the company. Forte Capital LLC ADV boosted its position in shares of Palo Alto Networks by 13.9% in the fourth quarter. Forte Capital LLC ADV now owns 2,484 shares of the network technology company’s stock valued at $732,000 after acquiring an additional 304 shares during the period. Vestmark Advisory Solutions Inc. boosted its position in shares of Palo Alto Networks by 2.6% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,070 shares of the network technology company’s stock valued at $610,000 after acquiring an additional 52 shares during the period. First National Trust Co boosted its position in shares of Palo Alto Networks by 418.4% in the fourth quarter. First National Trust Co now owns 23,337 shares of the network technology company’s stock valued at $6,882,000 after acquiring an additional 18,835 shares during the period. AJOVista LLC bought a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $98,000. Finally, Sapient Capital LLC bought a new stake in Palo Alto Networks during the fourth quarter valued at approximately $17,898,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Up 0.3 %

Shares of PANW stock traded up $0.89 during mid-day trading on Friday, reaching $296.21. 3,438,974 shares of the company’s stock traded hands, compared to its average volume of 3,429,938. Palo Alto Networks, Inc. has a 12 month low of $177.09 and a 12 month high of $380.84. The company has a market cap of $95.71 billion, a P/E ratio of 46.28, a P/E/G ratio of 4.03 and a beta of 1.18. The company’s 50-day moving average price is $285.98 and its 200-day moving average price is $293.25.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS 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 for the quarter, compared to analysts’ expectations of $1.97 billion. Equities analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on PANW shares. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Loop Capital lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research report on Wednesday, February 21st. Royal Bank of Canada lifted their target price on shares of Palo Alto Networks to $420.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Finally, Northland Securities lowered shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price for the company. in a research report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $314.82.

Insider Buying and Selling

In related news, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now directly owns 25,812 shares in the company, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Insiders have sold a total of 158,917 shares of company stock worth $44,335,843 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

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.