Callan Capital LLC Increases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Callan Capital LLC raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 102.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,227 shares of the network technology company’s stock after purchasing an additional 1,630 shares during the quarter. Callan Capital LLC’s holdings in Palo Alto Networks were worth $587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kintegral Advisory LLC grew its stake in shares of Palo Alto Networks by 91.1% in the 4th quarter. Kintegral Advisory LLC now owns 9,220 shares of the network technology company’s stock valued at $1,678,000 after purchasing an additional 4,395 shares during the last quarter. Navellier & Associates Inc. grew its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Navellier & Associates Inc. now owns 3,716 shares of the network technology company’s stock valued at $676,000 after purchasing an additional 1,858 shares during the last quarter. Advantage Trust Co grew its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Advantage Trust Co now owns 700 shares of the network technology company’s stock valued at $127,000 after purchasing an additional 350 shares during the last quarter. Ipswich Investment Management Co. Inc. boosted its stake in shares of Palo Alto Networks by 105.0% in the fourth quarter. Ipswich Investment Management Co. Inc. now owns 30,444 shares of the network technology company’s stock valued at $5,540,000 after buying an additional 15,592 shares in the last quarter. Finally, Red Wave Investments LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $209,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. KeyCorp lifted their price target on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Citigroup decreased their price target on Palo Alto Networks from $216.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets lifted their price target on Palo Alto Networks from $195.00 to $212.50 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Finally, Scotiabank lifted their price target on Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $204.69.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 700 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the sale, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the sale, the executive vice president now owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This trade represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,458,864 shares of company stock worth $269,397,331 over the last three months. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $191.03 on Friday. The firm has a market capitalization of $126.48 billion, a PE ratio of 107.62, a P/E/G ratio of 5.64 and a beta of 1.14. The business has a 50-day moving average of $187.09 and a two-hundred day moving average of $183.48. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39.

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