Westview Management dba Westview Investment Advisors Takes Position in Palo Alto Networks, Inc. $PANW

Westview Management dba Westview Investment Advisors bought a new stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund bought 16,538 shares of the network technology company’s stock, valued at approximately $3,046,000. Palo Alto Networks makes up about 1.5% of Westview Management dba Westview Investment Advisors’ holdings, making the stock its 29th largest position.

Several other institutional investors have also bought and sold shares of the stock. Klingman & Associates LLC lifted its stake in Palo Alto Networks by 2.2% during the 3rd quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company’s stock valued at $434,000 after acquiring an additional 46 shares in the last quarter. Contravisory Investment Management Inc. grew its stake in shares of Palo Alto Networks by 1.8% in the 3rd quarter. Contravisory Investment Management Inc. now owns 2,742 shares of the network technology company’s stock worth $558,000 after acquiring an additional 48 shares in the last quarter. Mattern Wealth Management LLC raised its holdings in shares of Palo Alto Networks by 2.9% in the third quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company’s stock valued at $345,000 after purchasing an additional 48 shares during the last quarter. PTM Wealth Management LLC lifted its position in shares of Palo Alto Networks by 4.0% during the third quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company’s stock valued at $276,000 after purchasing an additional 50 shares in the last quarter. Finally, Arlington Trust Co LLC boosted its holdings in Palo Alto Networks by 4.8% during the third quarter. Arlington Trust Co LLC now owns 1,088 shares of the network technology company’s stock worth $222,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total transaction of $940,900.00. Following the completion of the transaction, the executive vice president directly owned 155,119 shares of the company’s stock, valued at approximately $29,190,293.42. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total value of $147,848.00. Following the completion of the sale, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 149,252 shares of company stock valued at $27,888,535 in the last three months. 1.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PANW. Scotiabank reaffirmed an “outperform” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Wells Fargo & Company assumed coverage on shares of Palo Alto Networks in a research report on Tuesday, March 3rd. They set an “overweight” rating and a $200.00 target price on the stock. HSBC cut their target price on Palo Alto Networks from $157.00 to $114.00 in a research note on Thursday, February 19th. Citizens Jmp reaffirmed a “market outperform” rating and set a $250.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Finally, TD Cowen reiterated a “buy” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.19.

Read Our Latest Stock Analysis on Palo Alto Networks

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $162.95 on Monday. The firm has a market cap of $132.97 billion, a price-to-earnings ratio of 90.03, a P/E/G ratio of 5.88 and a beta of 0.78. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $223.61. The firm’s 50-day simple moving average is $167.77 and its two-hundred day simple moving average is $188.70.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the firm earned $0.81 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. Analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Palo Alto Networks Profile

(Free Report)

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

See Also

• Five stocks we like better than Palo Alto Networks

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report).