Lee Danner & Bass Inc. Purchases 9,517 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Lee Danner & Bass Inc. increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 283.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,869 shares of the network technology company’s stock after purchasing an additional 9,517 shares during the period. Lee Danner & Bass Inc.’s holdings in Palo Alto Networks were worth $2,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PANW. Tradewinds LLC. grew its holdings in Palo Alto Networks by 1.2% during the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after buying an additional 28 shares in the last quarter. First Dallas Securities Inc. grew its holdings in Palo Alto Networks by 1.4% during the 3rd quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock valued at $728,000 after buying an additional 30 shares in the last quarter. RB Capital Management LLC grew its holdings in Palo Alto Networks by 1.5% during the 3rd quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company’s stock valued at $852,000 after buying an additional 36 shares in the last quarter. Principal Street Partners LLC grew its holdings in Palo Alto Networks by 1.7% during the 3rd quarter. Principal Street Partners LLC now owns 2,321 shares of the network technology company’s stock valued at $792,000 after buying an additional 38 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in Palo Alto Networks by 2.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company’s stock valued at $676,000 after buying an additional 42 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 700 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the sale, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction on Monday, January 6th. The stock was 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 directly owns 365,856 shares in the company, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on PANW. BTIG Research lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Susquehanna boosted their price objective on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Westpark Capital reissued a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Needham & Company LLC boosted their price objective on Palo Alto Networks from $192.50 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.06.

Palo Alto Networks Stock Down 1.9 %

Shares of Palo Alto Networks stock opened at $184.01 on Friday. The business has a 50 day moving average of $186.41 and a 200 day moving average of $185.00. The company has a market cap of $121.83 billion, a PE ratio of 103.67, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, 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.