Whittier Trust Co. of Nevada Inc. Buys 157 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Whittier Trust Co. of Nevada Inc. raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,003 shares of the network technology company’s stock after purchasing an additional 157 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Palo Alto Networks were worth $2,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PANW. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks during the first quarter worth about $25,000. Sound Income Strategies LLC increased its position in shares of Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares during the period. Cape Investment Advisory Inc. raised its stake in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. New England Capital Financial Advisors LLC boosted its stake in Palo Alto Networks by 833.3% during the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after buying an additional 100 shares in the last quarter. Finally, First PREMIER Bank increased its holdings in Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after buying an additional 31 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock valued at $118,643,279 over the last three months. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PANW. Scotiabank lifted their target price on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. DA Davidson upped their price objective on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. TD Cowen raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group upped their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, KeyCorp lifted their price objective on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a report on Friday. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $375.79.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $378.41 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00. The company has a market capitalization of $122.53 billion, a P/E ratio of 55.00, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. The business has a 50-day moving average of $349.61 and a two-hundred day moving average of $324.19.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 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.