Future Fund LLC Has $223,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Future Fund LLC grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 189.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,359 shares of the network technology company’s stock after purchasing an additional 890 shares during the quarter. Palo Alto Networks makes up 0.4% of Future Fund LLC’s holdings, making the stock its 16th biggest holding. Future Fund LLC’s holdings in Palo Alto Networks were worth $223,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PANW. Covestor Ltd grew its holdings in Palo Alto Networks by 61.8% during the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock worth $35,000 after buying an additional 21 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Palo Alto Networks by 0.8% during the first quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock worth $1,843,000 after buying an additional 23 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its position in Palo Alto Networks by 6.5% in the second quarter. Carolinas Wealth Consulting LLC now owns 408 shares of the network technology company’s stock worth $202,000 after purchasing an additional 25 shares during the last quarter. Brighton Jones LLC boosted its position in Palo Alto Networks by 6.5% in the first quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock worth $265,000 after purchasing an additional 26 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its position in Palo Alto Networks by 6.4% in the first quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock worth $281,000 after purchasing an additional 27 shares during the last quarter. 81.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PANW. Royal Bank of Canada boosted their price objective on Palo Alto Networks from $200.00 to $216.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Guggenheim cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 17th. Credit Suisse Group boosted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. Robert W. Baird boosted their price objective on Palo Alto Networks from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 22nd. Finally, Citigroup boosted their price objective on Palo Alto Networks from $195.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Five investment analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $234.77.

Insider Activity

In other news, CAO Josh D. Paul sold 1,550 shares of the stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $185.00, for a total transaction of $286,750.00. Following the transaction, the chief accounting officer now directly owns 31,125 shares in the company, valued at approximately $5,758,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Josh D. Paul sold 1,550 shares of the stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $185.00, for a total transaction of $286,750.00. Following the completion of the sale, the chief accounting officer now directly owns 31,125 shares in the company, valued at approximately $5,758,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 26,625 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $138.46, for a total value of $3,686,497.50. Following the sale, the executive vice president now owns 1,882,898 shares of the company’s stock, valued at $260,706,057.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,089 shares of company stock worth $27,379,562. 3.90% of the stock is currently owned by insiders.

Palo Alto Networks Trading Down 0.4 %

Shares of Palo Alto Networks stock opened at $183.80 on Thursday. The firm has a market capitalization of $55.62 billion, a PE ratio of 2,506.48, a price-to-earnings-growth ratio of 5.10 and a beta of 1.16. The business’s 50-day moving average price is $164.62 and its 200-day moving average price is $162.20. Palo Alto Networks, Inc. has a 12 month low of $132.22 and a 12 month high of $213.63.

Palo Alto Networks Company Profile

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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.