Dillon & Associates Inc. Grows Stock Holdings in Palo Alto Networks, Inc. $PANW

Dillon & Associates Inc. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% during the 4th quarter, Holdings Channel reports. The fund owned 116,104 shares of the network technology company’s stock after buying an additional 1,955 shares during the period. Palo Alto Networks comprises 2.8% of Dillon & Associates Inc.’s portfolio, making the stock its 8th biggest holding. Dillon & Associates Inc.’s holdings in Palo Alto Networks were worth $21,363,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PANW. Brighton Jones LLC raised its position in Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after acquiring an additional 4,031 shares during the period. Bison Wealth LLC increased its stake in shares of Palo Alto Networks by 169.1% in 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 in the last quarter. Sivia Capital Partners LLC increased its stake in shares of Palo Alto Networks by 66.3% in the second quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock worth $713,000 after purchasing an additional 1,389 shares in the last quarter. Osterweis Capital Management Inc. increased its stake in shares of Palo Alto Networks by 11,100.0% in the second quarter. Osterweis Capital Management Inc. now owns 560 shares of the network technology company’s stock worth $115,000 after purchasing an additional 555 shares in the last quarter. Finally, Main Street Financial Solutions LLC increased its stake in shares of Palo Alto Networks by 6.0% in the second quarter. Main Street Financial Solutions LLC now owns 4,398 shares of the network technology company’s stock worth $900,000 after purchasing an additional 249 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $160.42, for a total value of $802,100.00. Following the completion of the transaction, the executive vice president directly owned 150,250 shares of the company’s stock, valued at $24,103,105. This trade represents a 3.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 1,100 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total transaction of $177,540.00. Following the completion of the sale, the chief accounting officer owned 83,136 shares in the company, valued at approximately $13,418,150.40. This trade represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 30,756 shares of company stock valued at $5,076,355 in the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Palo Alto Networks Stock Performance

PANW opened at $260.58 on Tuesday. The stock has a market capitalization of $212.63 billion, a price-to-earnings ratio of 143.97, a PEG ratio of 9.39 and a beta of 0.77. The company has a fifty day moving average of $185.14 and a 200 day moving average of $182.38. Palo Alto Networks, Inc. has a fifty-two week low of $139.57 and a fifty-two week high of $261.41.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PANW shares. Morgan Stanley increased their price objective on shares of Palo Alto Networks from $223.00 to $253.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Citizens Jmp reissued a “market outperform” rating and issued a $250.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Rosenblatt Securities increased their price objective on shares of Palo Alto Networks from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, Daiwa Securities Group cut their target price on shares of Palo Alto Networks from $212.00 to $175.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $226.33.

Palo Alto Networks Profile

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.