Enterprise Bank & Trust Co Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Enterprise Bank & Trust Co grew its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,573 shares of the network technology company’s stock after acquiring an additional 78 shares during the quarter. Palo Alto Networks accounts for approximately 1.2% of Enterprise Bank & Trust Co’s portfolio, making the stock its 26th largest holding. Enterprise Bank & Trust Co’s holdings in Palo Alto Networks were worth $2,452,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Avondale Wealth Management lifted its holdings in Palo Alto Networks by 200.0% during the third quarter. Avondale Wealth Management now owns 150 shares of the network technology company’s stock worth $25,000 after acquiring an additional 100 shares during the period. Emfo LLC increased its position in shares of Palo Alto Networks by 200.0% during the 3rd quarter. Emfo LLC now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. JNBA Financial Advisors increased its position in shares of Palo Alto Networks by 200.0% during the 3rd quarter. JNBA Financial Advisors now owns 150 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Ten Capital Wealth Advisors LLC raised its stake in shares of Palo Alto Networks by 200.0% during the 3rd quarter. Ten Capital Wealth Advisors LLC now owns 150 shares of the network technology company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Finally, Adirondack Trust Co. boosted its holdings in shares of Palo Alto Networks by 200.0% in the 3rd quarter. Adirondack Trust Co. now owns 156 shares of the network technology company’s stock worth $26,000 after buying an additional 104 shares during the last quarter. Institutional investors own 81.82% of the company’s stock.

Palo Alto Networks Price Performance

NASDAQ PANW traded down $0.65 during trading on Friday, hitting $189.12. 3,774,850 shares of the company’s stock traded hands, compared to its average volume of 4,807,472. The stock has a fifty day moving average of $166.80 and a two-hundred day moving average of $162.55. Palo Alto Networks, Inc. has a 12-month low of $132.22 and a 12-month high of $213.63. The firm has a market cap of $57.23 billion, a P/E ratio of 2,701.71, a PEG ratio of 4.90 and a beta of 1.16.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on shares of Palo Alto Networks from $195.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, February 22nd. Mizuho increased their price objective on Palo Alto Networks from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, February 22nd. BMO Capital Markets boosted their target price on Palo Alto Networks from $220.00 to $228.00 and gave the company an “outperform” rating in a research note on Wednesday, February 22nd. UBS Group increased their price target on Palo Alto Networks from $155.00 to $200.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 22nd. Finally, Evercore ISI boosted their price objective on Palo Alto Networks from $207.00 to $215.00 in a research note on Friday, November 18th. Five analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $234.77.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 15,639 shares of the business’s stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $135.88, for a total transaction of $2,125,027.32. Following the transaction, the executive vice president now owns 619,266 shares in the company, valued at approximately $84,145,864.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Nir Zuk sold 26,625 shares of the stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $138.46, for a total value of $3,686,497.50. Following the completion of the transaction, the executive vice president now directly owns 1,882,898 shares of the company’s stock, valued at $260,706,057.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 15,639 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $135.88, for a total value of $2,125,027.32. Following the sale, the executive vice president now directly owns 619,266 shares in the company, valued at $84,145,864.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,644 shares of company stock worth $27,482,009. 3.90% of the stock is currently owned by company insiders.

About Palo Alto Networks

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Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.