Sage Mountain Advisors LLC Has $379,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sage Mountain Advisors LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 37.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,284 shares of the network technology company’s stock after buying an additional 348 shares during the period. Sage Mountain Advisors LLC’s holdings in Palo Alto Networks were worth $379,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Webster Bank N. A. boosted its position in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. MV Capital Management Inc. lifted its holdings in shares of Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares in the last quarter. First Pacific Financial lifted its holdings in shares of Palo Alto Networks by 421.7% in the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Finally, Byrne Asset Management LLC increased its position in shares of Palo Alto Networks by 277.8% in the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PANW has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on Palo Alto Networks in a research report on Thursday, January 18th. They issued an “outperform” rating on the stock. Evercore ISI lifted their target price on Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Redburn Atlantic lifted their target price on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. BMO Capital Markets lowered their target price on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Finally, Rosenblatt Securities downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $290.00 to $265.00 in a research report on Wednesday, February 21st. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Trading Up 1.4 %

Shares of PANW stock opened at $281.68 on Tuesday. The stock has a market cap of $91.01 billion, a P/E ratio of 44.01, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19. The stock has a 50 day simple moving average of $293.65 and a 200 day simple moving average of $291.51. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. Analysts forecast that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palo Alto Networks 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 transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the company’s 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 sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The disclosure for this sale can be found here. Insiders sold 167,917 shares of company stock worth $49,395,553 over the last three months. Insiders own 3.30% of the company’s stock.

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.