First National Trust Co Purchases 37 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

First National Trust Co raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.1% in the third quarter, Holdings Channel reports. The firm owned 25,909 shares of the network technology company’s stock after acquiring an additional 37 shares during the quarter. First National Trust Co’s holdings in Palo Alto Networks were worth $8,856,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. NorthRock Partners LLC lifted its holdings in shares of Palo Alto Networks by 9.0% during the first quarter. NorthRock Partners LLC now owns 1,399 shares of the network technology company’s stock valued at $397,000 after purchasing an additional 116 shares in the last quarter. Inspire Investing LLC bought a new position in Palo Alto Networks during the 1st quarter valued at about $445,000. Avantax Advisory Services Inc. boosted its holdings in shares of Palo Alto Networks by 13.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 10,319 shares of the network technology company’s stock valued at $2,932,000 after acquiring an additional 1,229 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Palo Alto Networks by 1.7% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 69,218 shares of the network technology company’s stock worth $19,667,000 after acquiring an additional 1,153 shares during the period. Finally, Bleakley Financial Group LLC lifted its position in Palo Alto Networks by 9.1% during the first quarter. Bleakley Financial Group LLC now owns 5,803 shares of the network technology company’s stock valued at $1,649,000 after purchasing an additional 483 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PANW shares. Truist Financial boosted their target price on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Needham & Company LLC increased their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Rosenblatt Securities boosted their price target on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. TD Cowen upped their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Oppenheimer raised their price objective on shares of Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $378.87.

Palo Alto Networks Trading Up 1.7 %

Shares of NASDAQ:PANW opened at $398.10 on Tuesday. The company has a market cap of $129.62 billion, a price-to-earnings ratio of 54.91, a PEG ratio of 5.68 and a beta of 1.12. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $400.69. The company has a 50-day moving average price of $355.13 and a 200 day moving average price of $333.01.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the company earned $0.80 EPS. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock worth $89,383,077 over the last quarter. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Profile

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.