Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Titleist Asset Management LLC

Titleist Asset Management LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 150.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,309 shares of the network technology company’s stock after buying an additional 1,988 shares during the quarter. Titleist Asset Management LLC’s holdings in Palo Alto Networks were worth $602,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Uniting Wealth Partners LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $548,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in Palo Alto Networks by 94.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock worth $2,122,000 after buying an additional 5,658 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in Palo Alto Networks by 108.1% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company’s stock worth $3,886,000 after buying an additional 11,095 shares during the last quarter. National Pension Service increased its holdings in shares of Palo Alto Networks by 82.1% in the 4th quarter. National Pension Service now owns 1,345,740 shares of the network technology company’s stock valued at $244,871,000 after acquiring an additional 606,778 shares during the last quarter. Finally, Mosley Wealth Management raised its position in shares of Palo Alto Networks by 116.2% during the 4th quarter. Mosley Wealth Management now owns 3,023 shares of the network technology company’s stock valued at $561,000 after acquiring an additional 1,625 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the subject of a number of research reports. Citigroup lifted their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Rosenblatt Securities reiterated a “buy” rating and set a $235.00 price objective on shares of Palo Alto Networks in a research note on Monday, March 31st. Stephens started coverage on Palo Alto Networks in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $205.00 price target on the stock. Finally, Loop Capital reduced their price objective on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.27.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the sale, the executive vice president now owns 358,197 shares of the company’s stock, valued at $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 818,544 shares of company stock worth $147,132,028 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $153.57 on Monday. The stock has a market cap of $101.68 billion, a price-to-earnings ratio of 86.52, a PEG ratio of 5.64 and a beta of 1.07. The business has a 50 day simple moving average of $185.60 and a 200 day simple moving average of $185.36. Palo Alto Networks, Inc. has a 52 week low of $132.83 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. On average, analysts predict that Palo Alto Networks, Inc. will post 1.76 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.