Glenview Trust co Increases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Glenview Trust co grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 105.2% during the fourth quarter, Holdings Channel reports. The firm owned 9,192 shares of the network technology company’s stock after acquiring an additional 4,712 shares during the quarter. Glenview Trust co’s holdings in Palo Alto Networks were worth $1,673,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PANW. SJS Investment Consulting Inc. increased its stake in Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares during the period. Valued Wealth Advisors LLC grew its holdings in shares of Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management grew its holdings in shares of Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 106 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its holdings in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 79 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 235,492 shares of Palo Alto Networks stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total value of $43,170,393.44. Following the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at $199,159,581.28. This represents a 17.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $182.34 on Monday. The business has a 50-day moving average of $185.63 and a two-hundred day moving average of $184.93. The firm has a market capitalization of $120.73 billion, a PE ratio of 102.73, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on PANW shares. Oppenheimer reissued an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a research note on Thursday, November 21st. UBS Group boosted their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Monday, January 6th. Bank of America lifted their price target on shares of Palo Alto Networks from $200.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday, November 21st. Finally, Truist Financial increased their price objective on shares of Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

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.