One Capital Management LLC Has $1.18 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

One Capital Management LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 88.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,478 shares of the network technology company’s stock after buying an additional 1,631 shares during the period. One Capital Management LLC’s holdings in Palo Alto Networks were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Palo Alto Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after acquiring an additional 1,058,127 shares in the last quarter. Axiom Investors LLC DE boosted its stake in Palo Alto Networks by 359.3% during the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after purchasing an additional 749,199 shares during the period. Swedbank AB acquired a new position in Palo Alto Networks in the 1st quarter valued at approximately $177,933,000. 1832 Asset Management L.P. raised its holdings in Palo Alto Networks by 63.8% in the 4th quarter. 1832 Asset Management L.P. now owns 640,755 shares of the network technology company’s stock valued at $188,946,000 after acquiring an additional 249,455 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after acquiring an additional 198,078 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $346.11 on Tuesday. The business’s 50 day simple moving average is $336.38 and its 200 day simple moving average is $312.38. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84. The company has a market capitalization of $112.69 billion, a P/E ratio of 50.31, a P/E/G ratio of 5.03 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the transaction, the chief executive officer now directly owns 639,994 shares in the company, valued at approximately $219,505,142.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Nikesh Arora sold 66,666 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the transaction, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at $8,443,916. The disclosure for this sale can be found here. Insiders sold 464,075 shares of company stock worth $154,029,567 over the last three months. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Daiwa Capital Markets started coverage on Palo Alto Networks in a report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their target price on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Northland Securities increased their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a report on Tuesday, August 20th. Finally, Wells Fargo & Company lifted their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.

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.