S Bank Fund Management Ltd Purchases Shares of 1,150 Palo Alto Networks, Inc. (NASDAQ:PANW)

S Bank Fund Management Ltd bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) during the 1st quarter, Holdings Channel.com reports. The fund bought 1,150 shares of the network technology company’s stock, valued at approximately $196,000.

Several other hedge funds also recently made changes to their positions in the business. Nuveen LLC bought a new position in Palo Alto Networks in the first quarter valued at approximately $810,047,000. Northern Trust Corp boosted its position in Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock valued at $1,427,048,000 after buying an additional 4,486,654 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Palo Alto Networks by 98.0% during the fourth quarter. Nuveen Asset Management LLC now owns 6,158,580 shares of the network technology company’s stock worth $1,120,615,000 after purchasing an additional 3,047,625 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Palo Alto Networks by 92.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,951,283 shares of the network technology company’s stock worth $1,082,895,000 after purchasing an additional 2,862,718 shares during the period. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Aparna Bawa sold 526 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $190.00, for a total value of $99,940.00. Following the transaction, the director owned 8,632 shares of the company’s stock, valued at approximately $1,640,080. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the company’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer directly owned 42,033 shares in the company, valued at $8,450,734.65. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 669,248 shares of company stock valued at $126,423,337. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PANW has been the subject of a number of analyst reports. Jefferies Financial Group set a $235.00 target price on shares of Palo Alto Networks in a research note on Tuesday, July 29th. Wells Fargo & Company boosted their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. TD Securities restated a “buy” rating and set a $230.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. UBS Group set a $185.00 price target on shares of Palo Alto Networks and gave the stock a “neutral” rating in a report on Tuesday. Finally, Barclays dropped their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $217.52.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $176.86 on Thursday. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $210.39. The company has a market cap of $117.93 billion, a PE ratio of 101.06, a P/E/G ratio of 4.16 and a beta of 0.94. The business has a 50-day simple moving average of $192.92 and a 200-day simple moving average of $186.63.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The firm’s revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.