Triumph Capital Management Has $719,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Triumph Capital Management boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 78.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,953 shares of the network technology company’s stock after acquiring an additional 1,744 shares during the quarter. Triumph Capital Management’s holdings in Palo Alto Networks were worth $719,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PANW. Becker Capital Management Inc. increased its stake in shares of Palo Alto Networks by 101.3% in the fourth quarter. Becker Capital Management Inc. now owns 6,042 shares of the network technology company’s stock valued at $1,099,000 after buying an additional 3,041 shares during the period. Connors Investor Services Inc. grew its holdings in Palo Alto Networks by 95.8% during the 4th quarter. Connors Investor Services Inc. now owns 98,354 shares of the network technology company’s stock worth $17,896,000 after acquiring an additional 48,113 shares during the last quarter. Bridgewealth Advisory Group LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at approximately $209,000. Utah Retirement Systems raised its stake in shares of Palo Alto Networks by 111.0% during the fourth quarter. Utah Retirement Systems now owns 107,510 shares of the network technology company’s stock valued at $19,563,000 after acquiring an additional 56,555 shares during the last quarter. Finally, Randolph Co Inc lifted its holdings in shares of Palo Alto Networks by 99.8% during the fourth quarter. Randolph Co Inc now owns 83,130 shares of the network technology company’s stock worth $15,126,000 after purchasing an additional 41,527 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. This trade represents a 2.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,039,318 shares of company stock valued at $181,925,602 over the last ninety days. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PANW. Scotiabank increased their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Loop Capital decreased their price target on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Citigroup increased their target price on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Finally, Westpark Capital restated a “hold” rating and set a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.06.

Palo Alto Networks Price Performance

NASDAQ PANW opened at $186.65 on Wednesday. The stock has a market capitalization of $123.58 billion, a price-to-earnings ratio of 105.16, a PEG ratio of 5.64 and a beta of 1.07. The business’s fifty day moving average is $176.14 and its 200-day moving average is $184.70. Palo Alto Networks, Inc. has a one year low of $142.00 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal 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.