Lee Danner & Bass Inc. Invests $555,000 in Palo Alto Networks, Inc. (NASDAQ:PANW)

Lee Danner & Bass Inc. acquired a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,882 shares of the network technology company’s stock, valued at approximately $555,000.

Several other institutional investors have also recently made changes to their positions in the stock. Webster Bank N. A. raised its stake in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the period. Cedar Mountain Advisors LLC raised its stake in Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares during the period. MV Capital Management Inc. raised its stake in Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares during the period. First Pacific Financial raised its stake in Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Finally, Byrne Asset Management LLC raised its stake in Palo Alto Networks by 277.8% during the 3rd quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PANW shares. The Goldman Sachs Group lifted their target price on Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada raised their price target on Palo Alto Networks to $420.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Susquehanna cut their price target on Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a report on Monday, February 26th. Barclays cut their price target on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Stock Up 1.4 %

Shares of NASDAQ PANW opened at $281.68 on Tuesday. The business has a fifty day simple moving average of $293.65 and a two-hundred day simple moving average of $291.51. The firm has a market cap of $91.01 billion, a PE ratio of 44.01, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, research analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction on Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The disclosure for this sale can be found here. Insiders sold a total of 167,917 shares of company stock valued at $49,395,553 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

About Palo Alto Networks

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.