Guyasuta Investment Advisors Inc. trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 9.0% during the 4th quarter, HoldingsChannel reports. The firm owned 1,883 shares of the network technology company’s stock after selling 187 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Palo Alto Networks were worth $555,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. boosted its position in Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after buying an additional 29 shares during the period. Quent Capital LLC boosted its holdings in shares of Palo Alto Networks by 15.9% in the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after purchasing an additional 32 shares during the period. Parisi Gray Wealth Management grew its stake in Palo Alto Networks by 2.2% in the fourth quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after purchasing an additional 33 shares in the last quarter. Argonautica Private Wealth Management Inc. increased its holdings in Palo Alto Networks by 2.3% during the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock worth $450,000 after purchasing an additional 34 shares during the period. Finally, Howard Financial Services LTD. increased its holdings in Palo Alto Networks by 3.4% during the 4th quarter. Howard Financial Services LTD. now owns 1,061 shares of the network technology company’s stock worth $313,000 after purchasing an additional 35 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.
Palo Alto Networks Stock Performance
Shares of PANW opened at $293.41 on Tuesday. The stock has a 50-day moving average of $286.15 and a two-hundred day moving average of $292.81. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84. The stock has a market cap of $94.80 billion, a P/E ratio of 45.85, a P/E/G ratio of 3.96 and a beta of 1.19.
Insider Activity
In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was 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 owns 198,105 shares of the company’s stock, valued at approximately $56,327,194.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold a total of 122,917 shares of company stock valued at $33,959,203 in the last quarter. 3.30% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Redburn Atlantic raised their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Citigroup raised their price objective on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Stifel Nicolaus restated a “buy” rating and set a $330.00 price objective on shares of Palo Alto Networks in a report on Wednesday, March 13th. KeyCorp reduced their price objective on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, The Goldman Sachs Group raised their price objective on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.82.
Read Our Latest Report on Palo Alto Networks
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.
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