Metis Global Partners LLC Sells 942 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Metis Global Partners LLC lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,423 shares of the network technology company’s stock after selling 942 shares during the period. Metis Global Partners LLC’s holdings in Palo Alto Networks were worth $3,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Webster Bank N. A. grew its holdings in Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 47 shares in the last quarter. MV Capital Management Inc. increased its position in Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after acquiring an additional 29 shares during the period. Byrne Asset Management LLC raised its stake in Palo Alto Networks by 277.8% in the 3rd quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Alaska Permanent Fund Corp bought a new stake in Palo Alto Networks in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW traded up $4.36 on Monday, hitting $300.57. The stock had a trading volume of 2,839,864 shares, compared to its average volume of 5,264,754. Palo Alto Networks, Inc. has a 1 year low of $186.75 and a 1 year high of $380.84. The firm’s fifty day simple moving average is $285.98 and its two-hundred day simple moving average is $293.70. The stock has a market cap of $97.11 billion, a P/E ratio of 46.69, a price-to-earnings-growth ratio of 4.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Equities research analysts predict that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at approximately $7,629,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $56,327,194.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares in the company, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold a total of 158,917 shares of company stock worth $44,335,843 in the last quarter. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of a number of analyst reports. Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price target on the stock. in a research report on Wednesday, February 21st. Mizuho dropped their price target on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Citigroup increased their price objective on shares of Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Sanford C. Bernstein assumed coverage on shares of Palo Alto Networks in a research report on Thursday, January 18th. They issued an “outperform” rating for the company. Finally, Wedbush upped their price target on shares of Palo Alto Networks from $350.00 to $425.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.82.

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.