Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 7,358 shares of the network technology company’s stock after buying an additional 414 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Palo Alto Networks were worth $1,880,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of PANW. Norges Bank purchased a new stake in shares of Palo Alto Networks during the 4th quarter worth $751,276,000. Moneta Group Investment Advisors LLC purchased a new stake in shares of Palo Alto Networks during the 4th quarter worth $204,728,000. CIBC Private Wealth Group LLC boosted its position in shares of Palo Alto Networks by 80.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,559,318 shares of the network technology company’s stock worth $357,144,000 after buying an additional 1,137,163 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter worth about $148,226,000. Finally, Jennison Associates LLC boosted its position in shares of Palo Alto Networks by 48.4% in the 1st quarter. Jennison Associates LLC now owns 2,001,149 shares of the network technology company’s stock worth $399,710,000 after buying an additional 652,439 shares in the last quarter. 85.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on PANW. The Goldman Sachs Group boosted their price objective on shares of Palo Alto Networks from $230.00 to $254.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Stifel Nicolaus boosted their price objective on shares of Palo Alto Networks from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. Mizuho upped their target price on shares of Palo Alto Networks from $230.00 to $270.00 and gave the company a “buy” rating in a report on Monday, August 21st. BTIG Research upped their target price on shares of Palo Alto Networks from $270.00 to $292.00 and gave the company a “buy” rating in a report on Wednesday, September 13th. Finally, Northland Securities upped their target price on shares of Palo Alto Networks from $246.00 to $305.00 in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $264.71.

Palo Alto Networks Stock Down 0.3 %

PANW opened at $239.40 on Monday. The firm has a market capitalization of $73.88 billion, a P/E ratio of 190.63, a P/E/G ratio of 3.52 and a beta of 1.19. The firm’s 50 day moving average is $236.34 and its 200-day moving average is $217.65. Palo Alto Networks, Inc. has a 52-week low of $132.22 and a 52-week high of $258.88.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Friday, August 18th. The network technology company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. Palo Alto Networks had a net margin of 6.38% and a return on equity of 51.13%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the company earned $0.15 earnings per share. The business’s quarterly revenue was up 26.0% compared to the same quarter last year. Equities analysts expect that Palo Alto Networks, Inc. will post 2.51 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, President William D. Jenkins, Jr. sold 2,040 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $245.01, for a total transaction of $499,820.40. Following the completion of the sale, the president now owns 37,352 shares of the company’s stock, valued at $9,151,613.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction on Monday, August 7th. The shares were sold at an average price of $215.17, for a total value of $9,682,650.00. Following the completion of the transaction, the executive vice president now owns 177,213 shares of the company’s stock, valued at $38,130,921.21. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President William D. Jenkins, Jr. sold 2,040 shares of Palo Alto Networks stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $245.01, for a total transaction of $499,820.40. Following the completion of the transaction, the president now directly owns 37,352 shares of the company’s stock, valued at approximately $9,151,613.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,140 shares of company stock valued at $40,276,328. 3.90% of the stock is currently owned by corporate insiders.

Palo Alto Networks 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.