Westwood Holdings Group Inc. has reduced its stake in Palo Alto Networks, Inc. by **23.0%** in the second quarter of 2023, according to a recent Form 13F filing with the **Securities and Exchange Commission (SEC)**. The firm now holds **5,304 shares** of the cybersecurity company after selling **1,586 shares** during this period. The value of Westwood’s holdings in Palo Alto Networks is approximately **$1,085,000** based on the latest SEC disclosure.
Several other institutional investors have also adjusted their positions in Palo Alto Networks recently. Notably, **Whipplewood Advisors LLC** increased its stake by an astonishing **6,400.0%** during the same quarter, bringing its total to **130 shares** valued at **$27,000** after purchasing an additional **128 shares**. **Briaud Financial Planning Inc.** established a new position worth about **$28,000**, while **Dagco Inc.** and **Marshall & Sullivan Inc. WA** also made new acquisitions in the company, valued at approximately **$33,000** and **$41,000**, respectively. Currently, institutional investors and hedge funds collectively own **79.82%** of Palo Alto Networks’ stock.
Insider Trading Activity
In addition to institutional movements, insider trading has also been notable at Palo Alto Networks. On **September 23, 2023**, Executive Vice President **Dipak Golechha** sold **5,000 shares** at an average price of **$204.19**, resulting in a total transaction worth **$1,020,950**. Following this sale, Golechha retains **96,135 shares**, valued at approximately **$19,629,805.65**, representing a **4.94%** decrease in his holdings.
Furthermore, **Lee Klarich**, another Executive Vice President, sold **120,774 shares** on **November 3, 2023**, at an average price of **$217.94**, totaling roughly **$26,321,485.56**. Klarich’s remaining shares stand at **356,409**, valued at about **$77,675,777.46**, indicating a **25.31%** reduction in his position. Over the past three months, insiders have sold a total of **1,215,830 shares** worth **$249,160,428**, while insiders hold **1.40%** of the company’s stock.
Stock Performance and Financial Outlook
As of Monday, shares of Palo Alto Networks opened at **$206.57**. The stock has experienced a **12-month low** of **$144.15** and a **12-month high** of **$223.61**. With a market capitalization of **$141.29 billion**, the company has a price-to-earnings (P/E) ratio of **128.70** and a price-to-earnings-growth (PEG) ratio of **4.88**. The stock’s fifty-day moving average is **$209.07**, while the 200-day moving average is **$197.21**.
Palo Alto Networks’ most recent quarterly earnings report, released on **August 18, 2023**, showed earnings per share (EPS) of **$0.95**, surpassing analysts’ expectations of **$0.89** by **$0.06**. The company’s revenue for the quarter reached **$2.54 billion**, exceeding forecasts of **$2.50 billion** and representing a **15.8%** increase year-over-year. Analysts predict that Palo Alto Networks will achieve an EPS of **1.76** for the current fiscal year.
Palo Alto Networks, Inc. specializes in providing cybersecurity solutions globally. Its offerings include firewall appliances and software, along with **Panorama**, a security management solution for comprehensive network security. The company also provides a range of subscription services aimed at threat prevention and data protection, among others.
For more detailed information on hedge fund activities and insider trades related to Palo Alto Networks, visit HoldingsChannel.com for the latest **13F filings**. Additionally, individuals can sign up for MarketBeat.com’s daily email newsletter to receive updates on news and analysts’ ratings for Palo Alto Networks and similar companies.
