TCTC Holdings LLC Purchases 738 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

TCTC Holdings LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,476 shares of the network technology company’s stock after purchasing an additional 738 shares during the period. TCTC Holdings LLC’s holdings in Palo Alto Networks were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Tradewinds LLC. lifted its holdings in shares of Palo Alto Networks by 1.2% in the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock valued at $791,000 after purchasing an additional 28 shares in the last quarter. First Dallas Securities Inc. lifted its holdings in shares of Palo Alto Networks by 1.4% in the third quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock valued at $728,000 after purchasing an additional 30 shares in the last quarter. AMG National Trust Bank raised its holdings in Palo Alto Networks by 2.9% during the third quarter. AMG National Trust Bank now owns 1,220 shares of the network technology company’s stock worth $417,000 after acquiring an additional 34 shares in the last quarter. RB Capital Management LLC raised its holdings in Palo Alto Networks by 1.5% during the third quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company’s stock worth $852,000 after acquiring an additional 36 shares in the last quarter. Finally, Drive Wealth Management LLC raised its holdings in Palo Alto Networks by 4.3% during the third quarter. Drive Wealth Management LLC now owns 928 shares of the network technology company’s stock worth $317,000 after acquiring an additional 38 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 176,242 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $195,596,176.16. The trade was a 13.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the transaction, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 3.4 %

PANW opened at $182.34 on Monday. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The company has a 50-day simple moving average of $185.63 and a 200 day simple moving average of $184.93. The stock has a market capitalization of $120.73 billion, a price-to-earnings ratio of 102.73, a P/E/G ratio of 5.64 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PANW. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a report on Thursday, November 21st. StockNews.com lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. Barclays dropped their target price on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, HSBC lowered Palo Alto Networks from a “hold” rating to a “reduce” rating and dropped their price objective for the company from $152.00 to $145.50 in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks 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.