Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Washburn Capital Management Inc.

Washburn Capital Management Inc. increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 152.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,350 shares of the network technology company’s stock after buying an additional 1,420 shares during the period. Palo Alto Networks comprises 0.5% of Washburn Capital Management Inc.’s investment portfolio, making the stock its 26th largest holding. Washburn Capital Management Inc.’s holdings in Palo Alto Networks were worth $693,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PANW. Worth Asset Management LLC acquired a new position in Palo Alto Networks during the 1st quarter worth approximately $26,000. Covestor Ltd raised its stake in Palo Alto Networks by 61.8% in the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after buying an additional 21 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in shares of Palo Alto Networks by 1,071.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock worth $41,000 after acquiring an additional 75 shares in the last quarter. Webster Bank N. A. increased its holdings in shares of 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 acquiring an additional 85 shares during the last quarter. Finally, Cedar Mountain Advisors LLC increased its holdings in shares of Palo Alto Networks by 87.0% in the 4th 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 during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,153 shares of company stock worth $44,107,332. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Loop Capital downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research report on Wednesday, February 21st. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Barclays cut their target price on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. KeyCorp cut their target price on shares of Palo Alto Networks from $390.00 to $380.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $314.82.

View Our Latest Report on PANW

Palo Alto Networks Stock Down 0.8 %

Shares of Palo Alto Networks stock traded down $2.28 on Wednesday, hitting $271.12. The company’s stock had a trading volume of 2,344,286 shares, compared to its average volume of 5,883,936. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84. The firm has a fifty day moving average price of $314.52 and a 200-day moving average price of $287.31. The company has a market capitalization of $87.60 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 3.81 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Palo Alto Networks Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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