Highview Capital Management LLC DE Has $1.17 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Highview Capital Management LLC DE raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 103.5% in the fourth quarter, HoldingsChannel reports. The fund owned 6,426 shares of the network technology company’s stock after purchasing an additional 3,268 shares during the quarter. Highview Capital Management LLC DE’s holdings in Palo Alto Networks were worth $1,169,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after purchasing an additional 3,249,594 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after purchasing an additional 2,612,474 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Palo Alto Networks by 199.1% in the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock valued at $333,925,000 after purchasing an additional 1,213,073 shares in the last quarter. Swedbank AB lifted its holdings in shares of Palo Alto Networks by 107.8% in the fourth quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock valued at $297,450,000 after purchasing an additional 848,127 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Palo Alto Networks by 104.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,722 shares of the network technology company’s stock valued at $284,353,000 after purchasing an additional 796,964 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

PANW stock opened at $208.28 on Wednesday. Palo Alto Networks, Inc. has a fifty-two week low of $130.04 and a fifty-two week high of $208.35. The business’s 50 day moving average price is $186.84 and its two-hundred day moving average price is $182.29. The company has a market capitalization of $136.67 billion, a price-to-earnings ratio of 54.24, a price-to-earnings-growth ratio of 5.36 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 23.36% and a net margin of 32.99%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PANW. Northland Securities reiterated a “market perform” rating and set a $185.00 price target (up from $175.00) on shares of Palo Alto Networks in a report on Thursday, November 21st. Guggenheim lowered Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on Palo Alto Networks from $208.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. BTIG Research lowered Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $190.00 price target (down from $207.00) on shares of Palo Alto Networks in a report on Wednesday, January 8th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $202.70.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 336,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $193.70, for a total transaction of $65,081,520.00. Following the transaction, the executive vice president now owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. The trade was a 31.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,458,864 shares of company stock worth $269,397,331. Company insiders own 2.50% of the company’s stock.

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.