Team Hewins LLC Acquires Shares of 1,706 Palo Alto Networks, Inc. (NASDAQ:PANW)

Team Hewins LLC bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,706 shares of the network technology company’s stock, valued at approximately $503,000.

A number of other large investors also recently made changes to their positions in the business. GSG Advisors LLC increased its holdings in Palo Alto Networks by 1.0% in the fourth quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock worth $1,478,000 after buying an additional 51 shares during the last quarter. Spirit of America Management Corp NY boosted its position in shares of Palo Alto Networks by 50.0% in the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after acquiring an additional 100 shares during the period. Beacon Pointe Advisors LLC boosted its position in shares of Palo Alto Networks by 31.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after acquiring an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Palo Alto Networks by 9.9% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after acquiring an additional 2,225 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group lifted its position in Palo Alto Networks by 46.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after purchasing an additional 1,325 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In related news, EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the sale, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $49,895,983.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the completion of the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at $373,434,232.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 121,276 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the sale, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at approximately $49,895,983.20. The disclosure for this sale can be found here. In the last three months, insiders sold 278,326 shares of company stock worth $80,147,130. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on PANW shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $360.00 target price on shares of Palo Alto Networks in a research report on Tuesday. Susquehanna lifted their price objective on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a report on Tuesday. Loop Capital lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Wednesday, February 21st. Rosenblatt Securities lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their target price for the company from $290.00 to $265.00 in a research note on Wednesday, February 21st. Finally, BMO Capital Markets raised their target price on Palo Alto Networks from $327.00 to $334.00 and gave the company an “outperform” rating in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $317.45.

Palo Alto Networks Trading Up 3.3 %

Shares of NASDAQ:PANW traded up $10.13 during trading on Friday, hitting $321.57. 3,885,976 shares of the company were exchanged, compared to its average volume of 5,151,869. The stock has a market cap of $104.12 billion, a price-to-earnings ratio of 46.42, a P/E/G ratio of 4.99 and a beta of 1.18. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The firm has a fifty day moving average price of $289.58 and a two-hundred day moving average price of $299.15.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the previous year, the firm earned $0.38 EPS. The firm’s revenue was up 15.3% compared to the same quarter last year. As a group, research analysts predict that Palo Alto Networks, Inc. will post 2.79 EPS for the current 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.