Princeton Capital Management LLC Has $292,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Princeton Capital Management LLC lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 118.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,604 shares of the network technology company’s stock after buying an additional 869 shares during the quarter. Princeton Capital Management LLC’s holdings in Palo Alto Networks were worth $292,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. raised its stake in Palo Alto Networks by 94.3% in 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 purchasing an additional 5,658 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Palo Alto Networks by 108.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company’s stock worth $3,886,000 after purchasing an additional 11,095 shares during the period. National Pension Service raised its position in shares of Palo Alto Networks by 82.1% in the fourth quarter. National Pension Service now owns 1,345,740 shares of the network technology company’s stock valued at $244,871,000 after buying an additional 606,778 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Palo Alto Networks by 31.7% in the fourth quarter. Blue Trust Inc. now owns 3,883 shares of the network technology company’s stock valued at $707,000 after buying an additional 934 shares during the period. Finally, New York Life Investment Management LLC grew its position in Palo Alto Networks by 103.0% during the fourth quarter. New York Life Investment Management LLC now owns 97,351 shares of the network technology company’s stock worth $17,714,000 after buying an additional 49,391 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $184.79 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39. The business’s 50-day moving average is $186.92 and its 200-day moving average is $185.23. The company has a market capitalization of $122.35 billion, a price-to-earnings ratio of 104.11, a P/E/G ratio of 5.64 and a beta of 1.04.

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

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 235,492 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $183.32, for a total value of $43,170,393.44. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. The trade was a 17.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 120,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the transaction, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock valued at $204,315,811 over the last ninety days. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Westpark Capital reaffirmed a “hold” rating and issued a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 12th. KeyCorp upped their price objective on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Monday, February 10th. Finally, Citigroup increased their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.06.

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.