Phocas Financial Corp. Has $327,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Phocas Financial Corp. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 47.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,340 shares of the network technology company’s stock after purchasing an additional 750 shares during the quarter. Phocas Financial Corp.’s holdings in Palo Alto Networks were worth $327,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ronald Blue Trust Inc. bought a new stake in shares of Palo Alto Networks in the second quarter valued at about $28,000. Worth Asset Management LLC bought a new stake in shares of Palo Alto Networks in the first quarter valued at about $26,000. Covestor Ltd lifted its stake in shares of Palo Alto Networks by 61.8% in the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after buying an additional 21 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Palo Alto Networks in the second quarter valued at about $37,000. Finally, Salem Investment Counselors Inc. lifted its stake in shares of Palo Alto Networks by 1,071.4% in the second quarter. Salem Investment Counselors Inc. now owns 82 shares of the network technology company’s stock valued at $41,000 after buying an additional 75 shares during the period. 81.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Palo Alto Networks from $195.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. Royal Bank of Canada raised their price target on shares of Palo Alto Networks from $200.00 to $216.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 22nd. Mizuho raised their price target on shares of Palo Alto Networks from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Morgan Stanley raised their price target on shares of Palo Alto Networks from $240.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Finally, Wedbush raised their price target on shares of Palo Alto Networks from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 22nd. Five equities research analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.77.

Insider Activity

In other news, EVP Nir Zuk sold 26,625 shares of the business’s stock in a transaction on 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 owns 1,882,898 shares of the company’s stock, valued at approximately $260,706,057.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Nir Zuk sold 26,625 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 1,882,898 shares of the company’s stock, valued at approximately $260,706,057.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aparna Bawa sold 555 shares of the business’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $184.59, for a total transaction of $102,447.45. Following the completion of the sale, the director now directly owns 5,223 shares in the company, valued at $964,113.57. The disclosure for this sale can be found here. Insiders sold 157,644 shares of company stock valued at $27,482,009 in the last quarter. Company insiders own 3.90% of the company’s stock.

Palo Alto Networks Stock Down 0.3 %

Shares of PANW stock opened at $189.12 on Friday. 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 capitalization of $57.23 billion, a price-to-earnings ratio of 2,579.03, a price-to-earnings-growth ratio of 5.04 and a beta of 1.16. The firm has a fifty day moving average of $166.80 and a 200-day moving average of $162.54.

Palo Alto Networks Company Profile

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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.