GAMMA Investing LLC Purchases 1,280 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

GAMMA Investing LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 49.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,860 shares of the network technology company’s stock after buying an additional 1,280 shares during the period. GAMMA Investing LLC’s holdings in Palo Alto Networks were worth $1,309,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of PANW. Norges Bank purchased a new position in Palo Alto Networks in the fourth quarter valued at approximately $1,563,020,000. International Assets Investment Management LLC grew its stake in shares of Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after acquiring an additional 2,050,917 shares during the period. Jennison Associates LLC increased its holdings in Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after acquiring an additional 1,187,915 shares during the last quarter. Vanguard Group Inc. raised its stake in Palo Alto Networks by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after acquiring an additional 1,058,127 shares during the period. Finally, Axiom Investors LLC DE lifted its holdings in Palo Alto Networks by 359.3% during the fourth 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 last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. The disclosure for this sale can be found here. Insiders sold a total of 428,591 shares of company stock valued at $137,275,079 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

PANW stock traded down $10.02 during trading on Friday, reaching $305.60. The company had a trading volume of 3,524,599 shares, compared to its average volume of 2,378,765. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week high of $380.84. The company has a market cap of $98.95 billion, a P/E ratio of 44.42, a PEG ratio of 4.16 and a beta of 1.14. The business has a 50 day moving average of $321.74 and a 200 day moving average of $311.96.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. Palo Alto Networks’s revenue was up 15.3% on a year-over-year basis. Research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Macquarie boosted their price target on shares of Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Royal Bank of Canada dropped their price objective on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. JPMorgan Chase & Co. lifted their target price on Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. KeyCorp cut their price objective on shares of Palo Alto Networks from $384.00 to $380.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Finally, Sanford C. Bernstein upped their target price on shares of Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. 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 company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $325.59.

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.