Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 14,169 shares of the network technology company’s stock after selling 145 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Palo Alto Networks were worth $1,977,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fiera Capital Corp lifted its position in Palo Alto Networks by 190.8% in the third quarter. Fiera Capital Corp now owns 12,316 shares of the network technology company’s stock worth $2,017,000 after purchasing an additional 8,081 shares during the period. Nisa Investment Advisors LLC lifted its position in Palo Alto Networks by 186.0% in the third quarter. Nisa Investment Advisors LLC now owns 33,658 shares of the network technology company’s stock worth $5,520,000 after purchasing an additional 21,890 shares during the period. Aviva PLC lifted its position in Palo Alto Networks by 285.4% in the third quarter. Aviva PLC now owns 52,833 shares of the network technology company’s stock worth $8,654,000 after purchasing an additional 39,124 shares during the period. King Luther Capital Management Corp acquired a new stake in Palo Alto Networks in the second quarter worth approximately $345,000. Finally, Ieq Capital LLC lifted its position in Palo Alto Networks by 408.4% in the third quarter. Ieq Capital LLC now owns 14,189 shares of the network technology company’s stock worth $2,324,000 after purchasing an additional 11,398 shares during the period. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 0.3 %

Shares of Palo Alto Networks stock traded down $0.65 on Friday, hitting $189.12. 3,774,850 shares of the company traded hands, compared to its average volume of 4,807,472. The company has a market cap of $57.23 billion, a PE ratio of 2,701.71, a PEG ratio of 4.90 and a beta of 1.16. Palo Alto Networks, Inc. has a 12-month low of $132.22 and a 12-month high of $213.63. The company has a 50-day moving average price of $166.80 and a 200 day moving average price of $162.55.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 275 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $186.60, for a total value of $51,315.00. Following the completion of the sale, the chief accounting officer now directly owns 30,944 shares in the company, valued at $5,774,150.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Josh D. Paul sold 275 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $186.60, for a total value of $51,315.00. Following the completion of the sale, the chief accounting officer now directly owns 30,944 shares in the company, valued at $5,774,150.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aparna Bawa sold 555 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $184.59, for a total transaction of $102,447.45. Following the completion of the sale, the director now owns 5,223 shares of the company’s stock, valued at $964,113.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,644 shares of company stock worth $27,482,009. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PANW. KeyCorp upped their price target on Palo Alto Networks from $210.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday, February 22nd. BMO Capital Markets upped their price target on Palo Alto Networks from $220.00 to $228.00 and gave the company an “outperform” rating in a report on Wednesday, February 22nd. Mizuho upped their price target on Palo Alto Networks from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, February 22nd. UBS Group upped their price target on Palo Alto Networks from $155.00 to $200.00 and gave the company a “neutral” rating in a report on Wednesday, February 22nd. Finally, Cowen reaffirmed a “buy” rating and issued a $207.00 price target on shares of Palo Alto Networks in a report on Friday, November 18th. Five investment analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $234.77.

Palo Alto Networks Profile

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.