Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Harbour Investments Inc.

Harbour Investments Inc. boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 132.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,616 shares of the network technology company’s stock after purchasing an additional 2,627 shares during the quarter. Harbour Investments Inc.’s holdings in Palo Alto Networks were worth $840,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PANW. Swedbank AB boosted its holdings in shares of Palo Alto Networks by 19.7% during the third quarter. Swedbank AB now owns 786,574 shares of the network technology company’s stock valued at $268,851,000 after acquiring an additional 129,371 shares during the period. Howard Capital Management Group LLC boosted its holdings in shares of Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company’s stock valued at $36,316,000 after acquiring an additional 1,619 shares during the period. United Bank boosted its holdings in shares of Palo Alto Networks by 1.3% during the third quarter. United Bank now owns 6,835 shares of the network technology company’s stock valued at $2,336,000 after acquiring an additional 90 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Palo Alto Networks during the third quarter valued at $231,000. Finally, AMG National Trust Bank boosted its holdings in shares of 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 valued at $417,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the subject of several analyst reports. Morgan Stanley initiated coverage on shares of Palo Alto Networks in a report on Tuesday. They set an “overweight” rating for the company. Northland Securities reaffirmed a “market perform” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Palo Alto Networks in a report on Thursday, November 21st. Guggenheim downgraded shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective for the company. in a report on Monday, January 6th. Loop Capital reduced their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Finally, Wells Fargo & Company upped their price objective on shares of Palo Alto Networks from $208.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $205.06.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $187.54 on Thursday. The stock has a market cap of $124.17 billion, a price-to-earnings ratio of 105.66, a PEG ratio of 5.64 and a beta of 1.04. The business has a 50 day simple moving average of $186.18 and a 200 day simple moving average of $185.00. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39.

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

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. This represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares of the company’s stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

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.