Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,257 shares of the network technology company’s stock after selling 180 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Palo Alto Networks were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PANW. Fisher Asset Management LLC grew its holdings in shares of Palo Alto Networks by 7.2% during the 4th quarter. Fisher Asset Management LLC now owns 1,806 shares of the network technology company’s stock worth $533,000 after purchasing an additional 121 shares during the period. Alaska Permanent Fund Corp grew its stake in Palo Alto Networks by 403.5% during the first quarter. Alaska Permanent Fund Corp now owns 720 shares of the network technology company’s stock worth $205,000 after buying an additional 577 shares during the period. Central Bank & Trust Co. increased its position in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Radnor Capital Management LLC raised its stake in shares of Palo Alto Networks by 31.7% in the 1st quarter. Radnor Capital Management LLC now owns 1,455 shares of the network technology company’s stock valued at $413,000 after acquiring an additional 350 shares during the period. Finally, Game Plan Financial Advisors LLC lifted its holdings in shares of Palo Alto Networks by 1.3% during the 1st quarter. Game Plan Financial Advisors LLC now owns 4,846 shares of the network technology company’s stock valued at $1,377,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.4 %

PANW stock opened at $374.83 on Friday. The stock has a market cap of $121.37 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. The firm’s 50-day simple moving average is $348.67 and its 200 day simple moving average is $323.01. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $380.84.

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

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Wedbush restated an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. JMP Securities reiterated a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, August 20th. DA Davidson upped their target price on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities lifted their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.79.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 66,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the transaction, the chief executive officer now owns 639,994 shares in the company, valued at $219,505,142.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,452 shares of company stock valued at $118,643,279 in the last quarter. Corporate 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.