Palo Alto Networks, Inc. (NASDAQ:PANW) is Trillium Asset Management LLC’s 8th Largest Position

Trillium Asset Management LLC grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 84.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 359,365 shares of the network technology company’s stock after buying an additional 164,586 shares during the quarter. Palo Alto Networks accounts for 1.7% of Trillium Asset Management LLC’s holdings, making the stock its 8th largest holding. Trillium Asset Management LLC owned about 0.05% of Palo Alto Networks worth $65,390,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PANW. Itau Unibanco Holding S.A. bought a new position in shares of Palo Alto Networks in the 3rd quarter worth $29,000. True Wealth Design LLC raised its position in shares of Palo Alto Networks by 2,933.3% in the 3rd quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after acquiring an additional 88 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Palo Alto Networks in the 3rd quarter worth $32,000. Darwin Wealth Management LLC bought a new position in shares of Palo Alto Networks in the 3rd quarter worth $39,000. Finally, SJS Investment Consulting Inc. raised its position in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 235,492 shares of Palo Alto Networks stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total value of $43,170,393.44. Following the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PANW has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $190.00 target price (down from $207.00) on shares of Palo Alto Networks in a research report on Wednesday, January 8th. Hsbc Global Res cut Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 22nd. Barclays decreased 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. Rosenblatt Securities increased their price target on Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, BTIG Research cut Palo Alto Networks from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 8th. Three 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.06.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $183.10 on Wednesday. The business’s 50 day moving average price is $185.89 and its 200-day moving average price is $184.98. The firm has a market capitalization of $121.23 billion, a PE ratio of 103.16, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Palo Alto Networks Company 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.