Enterprise Bank & Trust Co Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Enterprise Bank & Trust Co boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 0.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 17,573 shares of the network technology company’s stock after acquiring an additional 78 shares during the period. Palo Alto Networks accounts for about 1.2% of Enterprise Bank & Trust Co’s portfolio, making the stock its 26th largest position. Enterprise Bank & Trust Co’s holdings in Palo Alto Networks were worth $2,452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. RB Capital Management LLC raised its position in Palo Alto Networks by 19.9% in the 1st quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock worth $375,000 after purchasing an additional 100 shares during the period. Morgens Waterfall Vintiadis & Co. Inc. purchased a new stake in Palo Alto Networks during the first quarter worth $6,910,000. United Bank boosted its position in Palo Alto Networks by 11.7% during the 1st quarter. United Bank now owns 2,822 shares of the network technology company’s stock valued at $1,757,000 after acquiring an additional 296 shares in the last quarter. Yousif Capital Management LLC boosted its position in Palo Alto Networks by 13.6% during the 1st quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock valued at $963,000 after acquiring an additional 185 shares in the last quarter. Finally, Prudential PLC purchased a new position in shares of Palo Alto Networks in the 1st quarter valued at $1,022,000. 81.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PANW shares. The Goldman Sachs Group lifted their price objective on shares of Palo Alto Networks from $205.00 to $213.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Piper Sandler upped their target price on Palo Alto Networks from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, February 22nd. Royal Bank of Canada lifted their price target on Palo Alto Networks from $200.00 to $216.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. JPMorgan Chase & Co. increased their target price on shares of Palo Alto Networks from $195.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Finally, Wolfe Research raised their price objective on Palo Alto Networks from $170.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Five equities research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $234.77.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Nir Zuk sold 26,625 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $138.46, for a total transaction of $3,686,497.50. Following the completion of the transaction, the executive vice president now directly owns 1,882,898 shares in the company, valued at $260,706,057.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Nir Zuk sold 26,625 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $138.46, for a total transaction of $3,686,497.50. Following the sale, the executive vice president now owns 1,882,898 shares of the company’s stock, valued at $260,706,057.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aparna Bawa sold 555 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $184.59, for a total transaction of $102,447.45. Following the completion of the transaction, the director now directly owns 5,223 shares of the company’s stock, valued at approximately $964,113.57. The disclosure for this sale can be found here. Insiders have sold a total of 157,644 shares of company stock valued at $27,482,009 over the last quarter. 3.90% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded down $0.65 on Friday, reaching $189.12. The company had a trading volume of 3,774,850 shares, compared to its average volume of 4,807,472. The firm’s 50 day moving average price is $166.80 and its two-hundred day moving average price is $162.55. Palo Alto Networks, Inc. has a 52-week low of $132.22 and a 52-week high of $213.63. The firm has a market cap of $57.23 billion, a PE ratio of 2,701.71, a PEG ratio of 4.90 and a beta of 1.16.

Palo Alto Networks Company Profile

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.