Highview Capital Management LLC DE Has $1.12 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Highview Capital Management LLC DE increased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.5% during the first quarter, Holdings Channel reports. The firm owned 6,586 shares of the network technology company’s stock after acquiring an additional 160 shares during the period. Highview Capital Management LLC DE’s holdings in Palo Alto Networks were worth $1,124,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PANW. Vanguard Group Inc. increased its position in shares of Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock worth $11,142,122,000 after purchasing an additional 31,281,359 shares during the period. Geode Capital Management LLC increased its position in shares of Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock worth $2,611,013,000 after purchasing an additional 6,725,148 shares during the period. Norges Bank bought a new position in shares of Palo Alto Networks in the fourth quarter worth $970,736,000. Northern Trust Corp increased its position in shares of Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock worth $1,427,048,000 after purchasing an additional 4,486,654 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Palo Alto Networks by 83.8% in the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the sale, the executive vice president owned 3,243,516 shares in the company, valued at $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the sale, the executive vice president owned 264,246 shares of the company’s stock, valued at $51,564,964.44. This trade represents a 31.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 547,948 shares of company stock worth $103,462,223. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on PANW shares. Sanford C. Bernstein set a $225.00 price target on Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Morgan Stanley decreased their target price on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Roth Capital began coverage on Palo Alto Networks in a research report on Thursday, May 15th. They issued a “neutral” rating and a $210.00 target price on the stock. Barclays decreased their target price on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $235.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Palo Alto Networks Stock Down 0.2%

NASDAQ PANW opened at $201.42 on Tuesday. The company has a market cap of $134.31 billion, a price-to-earnings ratio of 115.10, a P/E/G ratio of 5.63 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The business has a 50 day moving average price of $194.20 and a 200-day moving average price of $185.49.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.