Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by First American Trust FSB

First American Trust FSB lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 106.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,592 shares of the network technology company's stock after buying an additional 18,881 shares during the period. First American Trust FSB's holdings in Palo Alto Networks were worth $6,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Palo Alto Networks during the 3rd quarter valued at $29,000. True Wealth Design LLC boosted its stake in shares of Palo Alto Networks by 2,933.3% in the third 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 during the period. SJS Investment Consulting Inc. boosted its stake in shares of Palo Alto Networks by 97.2% in the fourth 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 during the period. Valued Wealth Advisors LLC grew its position in shares of Palo Alto Networks by 246.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock worth $26,000 after purchasing an additional 101 shares in the last quarter. Finally, Abound Wealth Management raised its stake in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 72 shares during the period. Institutional investors own 79.82% of the company's stock.

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Palo Alto Networks Price Performance

Palo Alto Networks stock traded down $1.46 during mid-day trading on Friday, reaching $172.98. 2,861,358 shares of the company traded hands, compared to its average volume of 5,898,657. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The firm's fifty day moving average is $187.47 and its two-hundred day moving average is $185.31. The company has a market capitalization of $114.53 billion, a price-to-earnings ratio of 97.33, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the sale, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. This represents a 24.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company's stock, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,122,864 shares of company stock worth $204,315,811 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PANW has been the subject of several recent analyst reports. Morgan Stanley set a $230.00 price target on Palo Alto Networks in a research note on Tuesday, March 18th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Guggenheim cut shares of Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Monday, January 6th. Jefferies Financial Group increased their price objective on shares of Palo Alto Networks from $225.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, UBS Group lifted their target price on Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $205.06.

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.