Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Boosted by SlateStone Wealth LLC

SlateStone Wealth LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.2% in the 4th quarter, Holdings Channel reports. The fund owned 1,750 shares of the network technology company’s stock after buying an additional 55 shares during the period. SlateStone Wealth LLC’s holdings in Palo Alto Networks were worth $516,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management lifted its holdings in Palo Alto Networks by 50.6% in the third quarter. Ritholtz Wealth Management now owns 2,628 shares of the network technology company’s stock worth $616,000 after purchasing an additional 883 shares during the period. Global Retirement Partners LLC lifted its holdings in Palo Alto Networks by 16.1% in the third quarter. Global Retirement Partners LLC now owns 2,294 shares of the network technology company’s stock worth $542,000 after purchasing an additional 318 shares during the period. Capital Investment Advisors LLC lifted its holdings in Palo Alto Networks by 13.7% in the third quarter. Capital Investment Advisors LLC now owns 1,635 shares of the network technology company’s stock worth $383,000 after purchasing an additional 197 shares during the period. Impact Partnership Wealth LLC lifted its holdings in Palo Alto Networks by 18,500.0% in the third quarter. Impact Partnership Wealth LLC now owns 186 shares of the network technology company’s stock worth $44,000 after purchasing an additional 185 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in Palo Alto Networks in the third quarter worth about $243,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded up $12.13 on Tuesday, hitting $293.81. The stock had a trading volume of 2,758,179 shares, compared to its average volume of 5,513,620. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84. The firm’s 50 day moving average price is $293.65 and its 200-day moving average price is $291.51. The company has a market capitalization of $94.93 billion, a price-to-earnings ratio of 45.47, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Insider Activity

In related news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,917 shares of company stock worth $49,395,553. Corporate insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PANW. Susquehanna cut their price target on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a report on Monday, February 26th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a report on Monday, January 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a report on Wednesday, April 17th. Loop Capital lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a research report on Wednesday, February 21st. Finally, Scotiabank reduced their price target on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a research report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Company 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.