Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,468 shares of the network technology company’s stock after purchasing an additional 738 shares during the period. Westwood Holdings Group Inc.’s holdings in Palo Alto Networks were worth $2,122,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after purchasing an additional 1,002,239 shares in the last quarter. Norges Bank acquired a new position in Palo Alto Networks during the 4th quarter worth $1,563,020,000. Clearbridge Investments LLC grew its holdings in Palo Alto Networks by 1.0% during the 4th quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock worth $924,905,000 after acquiring an additional 30,013 shares in the last quarter. Jennison Associates LLC grew its holdings in Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after acquiring an additional 198,078 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after acquiring an additional 2,050,917 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Shares of PANW traded up $6.68 during mid-day trading on Friday, hitting $326.81. The company’s stock had a trading volume of 1,709,425 shares, compared to its average volume of 2,294,796. The firm has a 50-day moving average price of $321.57 and a 200 day moving average price of $312.26. The stock has a market capitalization of $105.82 billion, a price-to-earnings ratio of 47.50, a PEG ratio of 4.90 and a beta of 1.14. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Daiwa Capital Markets assumed coverage on shares of Palo Alto Networks in a report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a report on Friday, June 21st. Royal Bank of Canada decreased their price objective on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. JMP Securities reissued a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Finally, Citigroup raised their price target on shares of Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $325.59.

Insider Transactions at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $339.16, for a total value of $12,209,760.00. Following the transaction, the executive vice president now directly owns 1,223,567 shares of the company’s stock, valued at $414,984,983.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $339.16, for a total value of $12,209,760.00. Following the transaction, the executive vice president now directly owns 1,223,567 shares of the company’s stock, valued at $414,984,983.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Insiders have sold a total of 428,391 shares of company stock valued at $136,147,317 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

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.