Triglav Skladi D.O.O. Purchases Shares of 6,000 Palo Alto Networks, Inc. (NASDAQ:PANW)

Triglav Skladi D.O.O. purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 6,000 shares of the network technology company’s stock, valued at approximately $1,092,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twinbeech Capital LP boosted its position in Palo Alto Networks by 114.2% in the fourth quarter. Twinbeech Capital LP now owns 288,574 shares of the network technology company’s stock valued at $52,509,000 after buying an additional 153,833 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Palo Alto Networks in the fourth quarter valued at about $73,965,000. Two Sigma Investments LP boosted its position in Palo Alto Networks by 54,752.4% in the fourth quarter. Two Sigma Investments LP now owns 407,005 shares of the network technology company’s stock valued at $74,059,000 after buying an additional 406,263 shares in the last quarter. Temasek Holdings Private Ltd bought a new position in shares of Palo Alto Networks in the fourth quarter worth about $4,522,000. Finally, Texas Bank & Trust Co bought a new position in shares of Palo Alto Networks in the fourth quarter worth about $948,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the completion of the transaction, the executive vice president now owns 293,010 shares in the company, valued at $55,458,002.70. This represents a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now owns 3,543,516 shares of the company’s stock, valued at $586,132,981.56. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 568,962 shares of company stock worth $96,933,690 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stephens downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Roth Capital assumed coverage on shares of Palo Alto Networks in a research note on Thursday. They issued a “neutral” rating and a $210.00 target price for the company. KeyCorp dropped their target price on shares of Palo Alto Networks from $240.00 to $205.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Westpark Capital reaffirmed a “hold” rating and issued a $196.40 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $235.00 target price on shares of Palo Alto Networks in a research note on Monday, March 31st. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $203.46.

Palo Alto Networks Stock Up 0.0%

Palo Alto Networks stock opened at $192.98 on Monday. The stock has a market capitalization of $127.77 billion, a PE ratio of 108.72, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The company has a 50 day moving average of $177.37 and a 200-day moving average of $185.16.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

About Palo Alto Networks

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.