Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Ipswich Investment Management Co. Inc.

by · The Cerbat Gem

Ipswich Investment Management Co. Inc. increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 105.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,444 shares of the network technology company’s stock after acquiring an additional 15,592 shares during the quarter. Palo Alto Networks makes up approximately 1.3% of Ipswich Investment Management Co. Inc.’s holdings, making the stock its 24th biggest holding. Ipswich Investment Management Co. Inc.’s holdings in Palo Alto Networks were worth $5,540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PANW. Tradewinds LLC. increased its position in Palo Alto Networks by 1.2% during the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after buying an additional 28 shares during the period. Cromwell Holdings LLC increased its position in Palo Alto Networks by 3.0% during the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after acquiring an additional 30 shares during the period. Rosenberg Matthew Hamilton increased its position in Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after acquiring an additional 30 shares during the period. Geneva Partners LLC boosted its holdings in Palo Alto Networks by 0.3% in the 3rd quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after purchasing an additional 30 shares during the period. Finally, Klingman & Associates LLC boosted its holdings in Palo Alto Networks by 4.2% in the 3rd quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock valued at $256,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the transaction, the executive vice president now owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nir Zuk sold 336,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the completion of the sale, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,458,864 shares of company stock worth $269,397,331 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PANW. Citigroup decreased their price target on Palo Alto Networks from $216.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Guggenheim downgraded shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $190.00 price objective (down from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. JPMorgan Chase & Co. upped their target price on Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company lifted their price target on Palo Alto Networks from $208.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.69.

Read Our Latest Stock Analysis on PANW

Palo Alto Networks Trading Down 3.9 %

NASDAQ PANW opened at $191.03 on Friday. The company’s fifty day simple moving average is $187.20 and its 200-day simple moving average is $182.95. The stock has a market cap of $126.48 billion, a P/E ratio of 107.62, a PEG ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Palo Alto Networks Company Profile

(Free Report)

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.

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