Westwood Holdings Group Inc. Has $1.99 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Westwood Holdings Group Inc. decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,730 shares of the network technology company’s stock after selling 45 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Palo Alto Networks were worth $1,985,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Horizon Family Wealth Inc. lifted its stake in shares of Palo Alto Networks by 1.1% in the fourth quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock worth $726,000 after acquiring an additional 28 shares during the period. MV Capital Management Inc. lifted its stake in shares of Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after acquiring an additional 29 shares during the period. Manchester Capital Management LLC lifted its stake in shares of Palo Alto Networks by 17.2% in the fourth quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock worth $60,000 after acquiring an additional 30 shares during the period. Quent Capital LLC lifted its stake in shares of Palo Alto Networks by 15.9% in the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock worth $69,000 after acquiring an additional 32 shares during the period. Finally, Parisi Gray Wealth Management lifted its stake in shares of Palo Alto Networks by 2.2% in the fourth quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the completion of the transaction, the executive vice president now owns 1,259,567 shares in the company, valued at approximately $369,443,596.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $293.31, for a total value of $10,559,160.00. Following the completion of the transaction, the executive vice president now owns 1,259,567 shares in the company, valued at approximately $369,443,596.77. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total value of $497,517.32. Following the completion of the transaction, the president now owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,897 shares of company stock worth $73,850,007. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $301.90 on Monday. The company has a market capitalization of $97.76 billion, a PE ratio of 43.88, a price-to-earnings-growth ratio of 4.65 and a beta of 1.11. The business has a fifty day moving average price of $293.53 and a two-hundred day moving average price of $303.77. Palo Alto Networks, Inc. has a 1 year low of $201.17 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PANW. Royal Bank of Canada lowered their target price on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Piper Sandler downgraded Palo Alto Networks from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $350.00 to $300.00 in a report on Wednesday, February 21st. Oppenheimer reiterated an “outperform” rating and issued a $330.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. JMP Securities reiterated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 21st. Finally, Evercore ISI lowered their target price on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a report on Tuesday, May 14th. Twelve analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $322.78.

Get Our Latest Stock Report on Palo Alto Networks

Palo Alto Networks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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