Crestwood Advisors Group LLC Has $11.99 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crestwood Advisors Group LLC lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 103.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,884 shares of the network technology company’s stock after acquiring an additional 33,561 shares during the period. Crestwood Advisors Group LLC’s holdings in Palo Alto Networks were worth $11,988,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC raised its holdings in shares of Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares during the period. Itau Unibanco Holding S.A. bought a new stake in Palo Alto Networks in the 3rd quarter valued at about $29,000. True Wealth Design LLC raised its stake in Palo Alto Networks by 2,933.3% during the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after buying an additional 88 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Palo Alto Networks in the third quarter worth approximately $32,000. Finally, Princeton Global Asset Management LLC acquired a new stake in Palo Alto Networks in the third quarter valued at approximately $33,000. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

PANW has been the topic of a number of research reports. UBS Group upped their target price on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Loop Capital dropped their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Scotiabank boosted their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Wells Fargo & Company raised their price target on shares of Palo Alto Networks from $208.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Barclays cut their price target on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $204.69.

Palo Alto Networks Trading Down 3.9 %

Palo Alto Networks stock opened at $191.03 on Monday. The firm has a 50 day simple moving average of $187.09 and a 200 day simple moving average of $183.70. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The firm has a market capitalization of $126.48 billion, a price-to-earnings ratio of 107.62, a P/E/G ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity

In related news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the completion of the sale, the executive vice president now owns 358,197 shares of the company’s stock, valued at approximately $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,864 shares of company stock worth $204,315,811 over the last ninety days. 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.