Teachers Retirement System of The State of Kentucky Acquires New Shares in Palo Alto Networks, Inc. (NASDAQ:PANW)

Teachers Retirement System of The State of Kentucky acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 36,534 shares of the network technology company’s stock, valued at approximately $5,984,000.

Several other institutional investors and hedge funds have also modified their holdings of PANW. RB Capital Management LLC lifted its stake in shares of Palo Alto Networks by 19.9% in the 1st quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock valued at $375,000 after purchasing an additional 100 shares during the last quarter. Morgens Waterfall Vintiadis & Co. Inc. acquired a new position in Palo Alto Networks during the 1st quarter worth $6,910,000. United Bank lifted its position in Palo Alto Networks by 11.7% during the 1st quarter. United Bank now owns 2,822 shares of the network technology company’s stock worth $1,757,000 after acquiring an additional 296 shares during the last quarter. Yousif Capital Management LLC lifted its position in Palo Alto Networks by 13.6% during the 1st quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock worth $963,000 after acquiring an additional 185 shares during the last quarter. Finally, Prudential PLC acquired a new position in Palo Alto Networks during the 1st quarter worth $1,022,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $189.12 on Friday. The company’s 50 day simple moving average is $166.80 and its 200 day simple moving average is $162.55. Palo Alto Networks, Inc. has a fifty-two week low of $132.22 and a fifty-two week high of $213.63. The firm has a market capitalization of $57.23 billion, a P/E ratio of 2,701.71, a P/E/G ratio of 4.90 and a beta of 1.16.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research analyst reports. Oppenheimer boosted their target price on shares of Palo Alto Networks from $200.00 to $220.00 in a research report on Friday, November 18th. TheStreet upgraded shares of Palo Alto Networks from a “d” rating to a “c” rating in a report on Tuesday, February 21st. 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. Guggenheim downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Tuesday, January 17th. Finally, Barclays boosted their price objective on shares of Palo Alto Networks from $215.00 to $227.00 and gave the stock an “overweight” 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 company. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $234.77.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,550 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $185.00, for a total value of $286,750.00. Following the transaction, the chief accounting officer now directly owns 31,125 shares in the company, valued at $5,758,125. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 1,550 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $185.00, for a total value of $286,750.00. Following the sale, the chief accounting officer now directly owns 31,125 shares in the company, valued at $5,758,125. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 275 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $186.60, for a total transaction of $51,315.00. Following the completion of the sale, the chief accounting officer now owns 30,944 shares in the company, valued at $5,774,150.40. The disclosure for this sale can be found here. Insiders have sold 157,644 shares of company stock worth $27,482,009 over the last ninety days. Company insiders own 3.90% of the company’s stock.

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.