Palo Alto Networks, Inc. $PANW Shares Purchased by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 60,747 shares of the network technology company’s stock after purchasing an additional 4,407 shares during the period. Palo Alto Networks accounts for approximately 1.1% of Harbour Trust & Investment Management Co’s holdings, making the stock its 27th biggest holding. Harbour Trust & Investment Management Co’s holdings in Palo Alto Networks were worth $11,190,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Bison Wealth LLC raised its holdings in shares of Palo Alto Networks by 169.1% during the fourth quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock worth $948,000 after purchasing an additional 3,275 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Palo Alto Networks by 66.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after buying an additional 1,389 shares during the last quarter. Osterweis Capital Management Inc. boosted its holdings in shares of Palo Alto Networks by 11,100.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 560 shares of the network technology company’s stock valued at $115,000 after buying an additional 555 shares during the period. Finally, Main Street Financial Solutions LLC grew its position in shares of Palo Alto Networks by 6.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,398 shares of the network technology company’s stock valued at $900,000 after buying an additional 249 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 3.6%

NASDAQ:PANW opened at $181.20 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $223.61. The firm has a market cap of $147.86 billion, a P/E ratio of 100.11, a PEG ratio of 6.31 and a beta of 0.77. The business’s 50-day moving average price is $161.20 and its 200 day moving average price is $182.60.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Wednesday, February 18th. The network technology company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Sell-side analysts expect that Palo Alto Networks, Inc. will post 2.14 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group restated a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, February 4th. Weiss Ratings restated a “hold (c)” rating on shares of Palo Alto Networks in a research report on Monday, December 29th. Guggenheim reaffirmed a “neutral” rating on shares of Palo Alto Networks in a report on Wednesday, February 18th. Morgan Stanley reissued an “overweight” rating and set a $223.00 target price (down from $245.00) on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Finally, New Street Research dropped their price target on shares of Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $210.07.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director James J. Goetz sold 22,684 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the completion of the sale, the director directly owned 52,500 shares of the company’s stock, valued at approximately $8,631,525. This represents a 30.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Key sold 1,572 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $173.32, for a total transaction of $272,459.04. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at $3,466,400. This represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,356 shares of company stock valued at $4,981,575 over the last 90 days. 1.40% of the stock is owned by insiders.

About Palo Alto Networks

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.