Goldstream Capital Management Ltd Raises Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Goldstream Capital Management Ltd increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 19,610 shares of the network technology company’s stock after acquiring an additional 1,850 shares during the quarter. Palo Alto Networks accounts for 3.8% of Goldstream Capital Management Ltd’s investment portfolio, making the stock its 11th largest holding. Goldstream Capital Management Ltd’s holdings in Palo Alto Networks were worth $5,783,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. raised its position in Palo Alto Networks by 89.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 11,965 shares of the network technology company’s stock worth $3,529,000 after purchasing an additional 5,652 shares during the period. Aveo Capital Partners LLC purchased a new position in Palo Alto Networks in the 4th quarter worth $212,000. Westover Capital Advisors LLC raised its position in Palo Alto Networks by 2.9% in the 4th quarter. Westover Capital Advisors LLC now owns 2,302 shares of the network technology company’s stock worth $679,000 after purchasing an additional 65 shares during the period. Concentrum Wealth Management purchased a new position in Palo Alto Networks in the 4th quarter worth $249,000. Finally, Natixis Advisors L.P. grew its holdings in Palo Alto Networks by 26.7% in the 4th quarter. Natixis Advisors L.P. now owns 53,688 shares of the network technology company’s stock worth $15,831,000 after acquiring an additional 11,307 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 2.8 %

Palo Alto Networks stock traded up $7.98 during trading hours on Thursday, hitting $295.32. The stock had a trading volume of 3,261,583 shares, compared to its average volume of 5,314,572. The stock has a market capitalization of $95.42 billion, a P/E ratio of 45.20, a price-to-earnings-growth ratio of 3.96 and a beta of 1.18. Palo Alto Networks, Inc. has a 12-month low of $176.35 and a 12-month high of $380.84. The stock’s 50-day moving average price is $285.15 and its 200-day moving average price is $293.00.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. On average, research analysts expect that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,917 shares of company stock valued at $33,959,203. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PANW. KeyCorp cut their price target on shares of Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a report on Thursday, April 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a report on Wednesday, April 17th. Sanford C. Bernstein began coverage on shares of Palo Alto Networks in a report on Thursday, January 18th. They issued an “outperform” rating on the stock. BMO Capital Markets cut their price target on shares of Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Finally, Loop Capital lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $314.82.

About Palo Alto Networks

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.