Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Westover Capital Advisors LLC

Westover Capital Advisors LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,302 shares of the network technology company’s stock after purchasing an additional 65 shares during the quarter. Westover Capital Advisors LLC’s holdings in Palo Alto Networks were worth $679,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Webster Bank N. A. grew its position in Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC increased its stake in Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after buying an additional 47 shares during the period. Byrne Asset Management LLC lifted its holdings in Palo Alto Networks by 277.8% during the 3rd quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. MV Capital Management Inc. boosted its position in Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after buying an additional 29 shares during the period. Finally, Alaska Permanent Fund Corp acquired a new position in shares of Palo Alto Networks in the fourth quarter worth $42,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the topic of a number of recent research reports. Loop Capital lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Wednesday, February 21st. Redburn Atlantic increased their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Northland Securities cut shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective for the company. in a research report on Wednesday, February 21st. The Goldman Sachs Group boosted their target price on shares of Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Stock Up 2.4 %

Shares of PANW traded up $6.89 during midday trading on Thursday, hitting $294.23. The company had a trading volume of 2,155,369 shares, compared to its average volume of 5,300,211. The stock has a market cap of $95.07 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 3.96 and a beta of 1.18. The company’s 50 day moving average price is $285.15 and its 200 day moving average price is $293.00. Palo Alto Networks, Inc. has a 52 week low of $176.35 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Equities analysts anticipate that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were 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 owns 25,812 shares in the company, valued at $7,230,715.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the sale, the president now directly owns 25,812 shares in the company, valued at $7,230,715.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,917 shares of company stock valued at $33,959,203. 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.