Glenview Trust co Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Glenview Trust co lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 105.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,192 shares of the network technology company’s stock after purchasing an additional 4,712 shares during the quarter. Glenview Trust co’s holdings in Palo Alto Networks were worth $1,673,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PANW. SJS Investment Consulting Inc. grew its position in Palo Alto Networks by 97.2% in the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. Valued Wealth Advisors LLC boosted its holdings in shares of Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after purchasing an additional 101 shares during the period. Abound Wealth Management increased its position in shares of Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after buying an additional 106 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 79 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PANW. Needham & Company LLC raised their target price on shares of Palo Alto Networks from $192.50 to $225.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Robert W. Baird raised their price objective on shares of Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. UBS Group upped their target price on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley increased their price target on Palo Alto Networks from $223.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Truist Financial upped their price objective on Palo Alto Networks from $200.00 to $212.50 and gave the company a “buy” rating in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.06.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $199,159,581.28. The trade was a 17.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,122,864 shares of company stock valued at $204,315,811. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $182.34 on Monday. The stock has a market capitalization of $120.73 billion, a P/E ratio of 102.73, a P/E/G ratio of 5.64 and a beta of 1.04. The company’s fifty day moving average price is $185.63 and its 200 day moving average price is $184.93. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.