Trust Asset Management LLC Has $1.28 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Trust Asset Management LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,497 shares of the network technology company’s stock after purchasing an additional 423 shares during the quarter. Trust Asset Management LLC’s holdings in Palo Alto Networks were worth $1,279,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Transce3nd LLC bought a new position in Palo Alto Networks in the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after buying an additional 55 shares during the period. Anchor Investment Management LLC increased its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 78 shares during the period. Capital A Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at $29,000. Finally, HWG Holdings LP bought a new stake in shares of Palo Alto Networks during the first quarter worth $31,000. 79.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on PANW. Guggenheim reiterated a “sell” rating and issued a $130.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. TD Securities reaffirmed a “buy” rating and issued a $230.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $223.00 price target on shares of Palo Alto Networks in a research note on Monday, May 19th. JPMorgan Chase & Co. reduced their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 21st. Finally, Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the stock an “outperform” rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.61.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $172.80, for a total value of $17,280,000.00. Following the sale, the executive vice president owned 3,143,516 shares in the company, valued at approximately $543,199,564.80. This represents a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the sale, the executive vice president directly owned 264,246 shares of the company’s stock, valued at $51,564,964.44. This represents a 31.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 669,248 shares of company stock valued at $126,423,337 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Down 0.6%

PANW stock opened at $167.06 on Monday. The company has a market cap of $111.40 billion, a price-to-earnings ratio of 95.46, a P/E/G ratio of 3.96 and a beta of 0.94. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $210.39. The business has a 50 day moving average price of $194.23 and a two-hundred day moving average price of $186.91.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

About Palo Alto Networks

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.