Price T Rowe Associates Inc. MD Grows Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Price T Rowe Associates Inc. MD grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 111.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,572 shares of the network technology company’s stock after buying an additional 222,394 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Palo Alto Networks were worth $69,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Primecap Management Co. CA grew its stake in Palo Alto Networks by 197.9% in the 3rd quarter. Primecap Management Co. CA now owns 539,462 shares of the network technology company’s stock worth $88,358,000 after buying an additional 358,353 shares in the last quarter. Pearl River Capital LLC grew its stake in Palo Alto Networks by 711.7% in the 3rd quarter. Pearl River Capital LLC now owns 19,441 shares of the network technology company’s stock worth $3,184,000 after buying an additional 17,046 shares in the last quarter. Quest Investment Management LLC grew its stake in Palo Alto Networks by 211.0% in the 3rd quarter. Quest Investment Management LLC now owns 70,881 shares of the network technology company’s stock worth $11,610,000 after buying an additional 48,092 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Palo Alto Networks in the 3rd quarter worth approximately $3,766,000. Finally, KWB Wealth lifted its holdings in shares of Palo Alto Networks by 159.3% in the 3rd quarter. KWB Wealth now owns 1,737 shares of the network technology company’s stock worth $285,000 after acquiring an additional 1,067 shares during the last quarter. Hedge funds and other institutional investors own 81.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $185.90 on Tuesday. Palo Alto Networks, Inc. has a one year low of $132.22 and a one year high of $213.63. The company’s 50-day moving average is $162.79 and its 200 day moving average is $161.95. The company has a market capitalization of $56.26 billion, a price-to-earnings ratio of 2,535.12, a price-to-earnings-growth ratio of 5.10 and a beta of 1.16.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on shares of Palo Alto Networks from $195.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, February 22nd. Wolfe Research boosted their price objective on shares of Palo Alto Networks from $170.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd. Evercore ISI boosted their price objective on shares of Palo Alto Networks from $207.00 to $215.00 in a report on Friday, November 18th. Stifel Nicolaus boosted their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, February 22nd. Finally, JMP Securities boosted their price objective on shares of Palo Alto Networks from $208.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, February 22nd. Five research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.77.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 275 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $186.60, for a total transaction of $51,315.00. Following the sale, the chief accounting officer now directly owns 30,944 shares of the company’s stock, valued at approximately $5,774,150.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Josh D. Paul sold 275 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $186.60, for a total transaction of $51,315.00. Following the sale, the chief accounting officer now directly owns 30,944 shares of the company’s stock, valued at approximately $5,774,150.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 15,639 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $135.88, for a total transaction of $2,125,027.32. Following the sale, the executive vice president now directly owns 619,266 shares in the company, valued at approximately $84,145,864.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,089 shares of company stock valued at $19,017,662. 3.90% of the stock is owned by insiders.

Palo Alto Networks Profile

(Get Rating)

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.