Hazlett Burt & Watson Inc. Has $348,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Hazlett Burt & Watson Inc. increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 92.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,912 shares of the network technology company’s stock after buying an additional 921 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Palo Alto Networks were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock worth $11,142,122,000 after buying an additional 31,281,359 shares in the last quarter. Norges Bank bought a new position in Palo Alto Networks in the fourth quarter valued at approximately $970,736,000. Jennison Associates LLC raised its position in Palo Alto Networks by 83.0% during the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after purchasing an additional 2,612,474 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Palo Alto Networks by 86.9% during the fourth quarter. Clearbridge Investments LLC now owns 4,775,171 shares of the network technology company’s stock worth $868,890,000 after purchasing an additional 2,220,130 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Palo Alto Networks by 109.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,202,926 shares of the network technology company’s stock valued at $764,764,000 after purchasing an additional 2,197,765 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Down 1.0 %

Shares of Palo Alto Networks stock opened at $172.76 on Monday. The company has a market cap of $114.38 billion, a PE ratio of 97.33, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39. The business has a 50 day moving average price of $187.39 and a 200-day moving average price of $185.49.

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

Insider Buying and Selling

In other news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

PANW has been the topic of several research analyst reports. Jefferies Financial Group raised their price objective on Palo Alto Networks from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. UBS Group lifted their price target on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Westpark Capital restated a “hold” rating and issued a $196.40 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. StockNews.com cut Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Finally, JMP Securities raised their price objective on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.06.

About Palo Alto Networks

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.