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

Dillon & Associates Inc. increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,104 shares of the network technology company’s stock after acquiring an additional 1,955 shares during the period. Palo Alto Networks makes up 2.8% of Dillon & Associates Inc.’s investment portfolio, making the stock its 8th largest holding. Dillon & Associates Inc.’s holdings in Palo Alto Networks were worth $21,363,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PANW. Darwin Wealth Management LLC bought a new position in shares of Palo Alto Networks in the second quarter worth approximately $25,000. Steph & Co. lifted its stake in shares of Palo Alto Networks by 88.2% in the fourth quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after buying an additional 67 shares in the last quarter. Knuff & Co LLC bought a new position in shares of Palo Alto Networks in the fourth quarter worth approximately $26,000. Luken Investment Analytics LLC lifted its stake in shares of Palo Alto Networks by 196.2% in the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock worth $28,000 after buying an additional 102 shares in the last quarter. Finally, WHI TRUST Co LLC bought a new position in shares of Palo Alto Networks in the fourth quarter worth approximately $28,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $260.58 on Tuesday. The company has a market cap of $212.63 billion, a price-to-earnings ratio of 143.97, a price-to-earnings-growth ratio of 9.39 and a beta of 0.77. The company’s 50 day moving average is $185.14 and its 200 day moving average is $182.38. Palo Alto Networks, Inc. has a twelve month low of $139.57 and a twelve month high of $261.41.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 1,100 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $161.40, for a total transaction of $177,540.00. Following the transaction, the chief accounting officer owned 83,136 shares in the company, valued at $13,418,150.40. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Key sold 1,572 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total transaction of $272,459.04. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $3,466,400. This trade represents a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,756 shares of company stock valued at $5,076,355 over the last quarter. 1.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PANW shares. Guggenheim reiterated a “neutral” rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Barclays reiterated an “overweight” rating and issued a $220.00 target price (up from $200.00) on shares of Palo Alto Networks in a research note on Monday, May 11th. Argus upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research note on Friday, February 20th. DA Davidson set a $190.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Palo Alto Networks from $225.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $226.33.

About Palo Alto Networks

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.