Flaharty Asset Management LLC Has $366,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Flaharty Asset Management LLC increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,241 shares of the network technology company’s stock after purchasing an additional 65 shares during the period. Flaharty Asset Management LLC’s holdings in Palo Alto Networks were worth $366,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. First Pacific Financial grew its holdings in Palo Alto Networks by 421.7% in the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Webster Bank N. A. grew its holdings in Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after buying an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC grew its holdings in Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after buying an additional 47 shares in the last quarter. Byrne Asset Management LLC grew its holdings in shares of Palo Alto Networks by 277.8% during the 3rd quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, MV Capital Management Inc. grew its holdings in shares of Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 1.3 %

PANW traded up $3.70 during trading on Monday, hitting $295.12. 1,154,119 shares of the company’s stock were exchanged, compared to its average volume of 5,368,039. The business’s 50 day moving average is $287.61 and its two-hundred day moving average is $292.58. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84. The stock has a market cap of $95.35 billion, a P/E ratio of 45.53, a PEG ratio of 3.96 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Insider Activity

In other news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold a total of 122,917 shares of company stock worth $33,959,203 over the last quarter. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PANW. Royal Bank of Canada increased their target price on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Wedbush increased their target price on Palo Alto Networks from $350.00 to $425.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. BMO Capital Markets reduced their target price on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Finally, Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.