Westwood Wealth Management Sells 225 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Westwood Wealth Management trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,753 shares of the network technology company’s stock after selling 225 shares during the quarter. Palo Alto Networks accounts for 1.9% of Westwood Wealth Management’s portfolio, making the stock its 11th largest position. Westwood Wealth Management’s holdings in Palo Alto Networks were worth $5,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aveo Capital Partners LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at approximately $212,000. Gryphon Financial Partners LLC acquired a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $336,000. Orion Portfolio Solutions LLC increased its position in shares of Palo Alto Networks by 8.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 14,800 shares of the network technology company’s stock worth $4,285,000 after acquiring an additional 1,179 shares in the last quarter. Congress Wealth Management LLC DE raised its holdings in shares of Palo Alto Networks by 69.7% during the fourth quarter. Congress Wealth Management LLC DE now owns 8,034 shares of the network technology company’s stock worth $2,369,000 after acquiring an additional 3,299 shares during the period. Finally, Hilltop Holdings Inc. lifted its position in Palo Alto Networks by 3.3% in the 4th quarter. Hilltop Holdings Inc. now owns 3,842 shares of the network technology company’s stock valued at $1,133,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of several recent research reports. Evercore ISI lifted their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. BTIG Research boosted their target price on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley raised their price target on shares of Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Scotiabank boosted their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

Insider Buying and Selling at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the transaction, the director now owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock valued at $154,029,567 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $344.17 on Tuesday. The business’s 50 day simple moving average is $336.46 and its 200 day simple moving average is $313.98. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84. The company has a market capitalization of $111.44 billion, a P/E ratio of 50.02, a P/E/G ratio of 5.04 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

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.