Toroso Investments LLC Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Palo Alto Networks logoToroso Investments LLC raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 204.8% in the third quarter, HoldingsChannel reports. The firm owned 5,663 shares of the network technology company’s stock after buying an additional 3,805 shares during the quarter. Toroso Investments LLC’s holdings in Palo Alto Networks were worth $927,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Palo Alto Networks by 150.3% during the 3rd quarter. Vanguard Group Inc. now owns 19,223,780 shares of the network technology company’s stock valued at $3,148,664,000 after purchasing an additional 11,544,319 shares during the period. First Trust Advisors LP grew its stake in shares of Palo Alto Networks by 171.2% during the 3rd quarter. First Trust Advisors LP now owns 2,434,431 shares of the network technology company’s stock valued at $398,735,000 after purchasing an additional 1,536,744 shares during the period. The Canada Pension Plan Investment Board grew its stake in shares of Palo Alto Networks by 199.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 2,197,356 shares of the network technology company’s stock valued at $359,905,000 after purchasing an additional 1,463,568 shares during the period. Jennison Associates LLC grew its stake in shares of Palo Alto Networks by 239.8% during the 3rd quarter. Jennison Associates LLC now owns 2,171,621 shares of the network technology company’s stock valued at $355,690,000 after purchasing an additional 1,532,582 shares during the period. Finally, Pictet Asset Management SA grew its stake in shares of Palo Alto Networks by 148.1% during the 3rd quarter. Pictet Asset Management SA now owns 1,992,079 shares of the network technology company’s stock valued at $326,282,000 after purchasing an additional 1,189,208 shares during the period. 81.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equity research analysts have issued reports on PANW shares. Roth Mkm boosted their price target on Palo Alto Networks from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, February 22nd. Credit Suisse Group lifted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. BMO Capital Markets lifted their price objective on Palo Alto Networks from $220.00 to $228.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Palo Alto Networks from $165.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Finally, Loop Capital lifted their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Five research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.77.

Palo Alto Networks Trading Down 0.3 %

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Shares of NASDAQ PANW opened at $189.12 on Friday. The firm’s 50-day moving average price is $166.80 and its 200-day moving average price is $162.54. The stock has a market capitalization of $57.23 billion, a price-to-earnings ratio of 2,579.03, a P/E/G ratio of 4.89 and a beta of 1.16. Palo Alto Networks, Inc. has a 12-month low of $132.22 and a 12-month high of $213.63.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 26,625 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $138.46, for a total transaction of $3,686,497.50. Following the transaction, the executive vice president now directly owns 1,882,898 shares in the company, valued at approximately $260,706,057.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via the SEC website. In related news, EVP Nir Zuk sold 26,625 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $138.46, for a total transaction of $3,686,497.50. Following the transaction, the executive vice president now directly owns 1,882,898 shares in the company, valued at approximately $260,706,057.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via the SEC website. Also, EVP Lee Klarich sold 15,639 shares of the company’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $135.88, for a total transaction of $2,125,027.32. Following the transaction, the executive vice president now owns 619,266 shares in the company, valued at $84,145,864.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,644 shares of company stock worth $27,482,009. Insiders own 3.90% of the company’s stock.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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