Palo Alto Networks, Inc. $PANW Holdings Raised by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 60,747 shares of the network technology company’s stock after buying an additional 4,407 shares during the quarter. Palo Alto Networks makes up approximately 1.1% of Harbour Trust & Investment Management Co’s holdings, making the stock its 27th largest holding. Harbour Trust & Investment Management Co’s holdings in Palo Alto Networks were worth $11,190,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Brighton Jones LLC lifted its stake in shares of Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock valued at $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Bison Wealth LLC increased its position in Palo Alto Networks by 169.1% during the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock worth $948,000 after buying an additional 3,275 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in Palo Alto Networks by 66.3% during the second quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock valued at $713,000 after buying an additional 1,389 shares in the last quarter. Osterweis Capital Management Inc. lifted its position in shares of Palo Alto Networks by 11,100.0% in the second quarter. Osterweis Capital Management Inc. now owns 560 shares of the network technology company’s stock worth $115,000 after buying an additional 555 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Palo Alto Networks by 6.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,398 shares of the network technology company’s stock worth $900,000 after acquiring an additional 249 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PANW shares. UBS Group set a $183.00 price objective on Palo Alto Networks in a report on Thursday, February 19th. Susquehanna decreased their price objective on shares of Palo Alto Networks from $230.00 to $200.00 and set a “positive” rating for the company in a report on Wednesday, February 18th. Wells Fargo & Company initiated coverage on shares of Palo Alto Networks in a research report on Tuesday, March 3rd. They set an “overweight” rating and a $200.00 target price for the company. Needham & Company LLC dropped their price objective on Palo Alto Networks from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Finally, The Goldman Sachs Group lowered their target price on Palo Alto Networks from $240.00 to $224.00 and set a “buy” rating on the stock in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.07.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $181.20 on Thursday. Palo Alto Networks, Inc. has a one year low of $139.57 and a one year high of $223.61. The stock has a fifty day moving average price of $161.20 and a 200 day moving average price of $182.60. The stock has a market cap of $147.86 billion, a P/E ratio of 100.11, a price-to-earnings-growth ratio of 6.31 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.09. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.14 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora bought 68,085 shares of the business’s stock in a transaction that occurred on Friday, March 27th. The stock was acquired at an average price of $146.87 per share, for a total transaction of $9,999,643.95. Following the transaction, the chief executive officer directly owned 343,394 shares of the company’s stock, valued at $50,434,276.78. This represents a 24.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 1,100 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total value of $177,540.00. Following the transaction, the chief accounting officer owned 83,136 shares of the company’s stock, valued at $13,418,150.40. This represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 30,356 shares of company stock valued at $4,981,575. Corporate insiders own 1.40% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.