Heritage Trust Co Invests $1.95 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

Heritage Trust Co acquired a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,692 shares of the network technology company's stock, valued at approximately $1,946,000.

Other hedge funds have also recently bought and sold shares of the company. SJS Investment Consulting Inc. boosted its holdings 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 valued at $25,000 after purchasing an additional 69 shares in the last quarter. Valued Wealth Advisors LLC grew its position in Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after acquiring an additional 101 shares during the last quarter. Abound Wealth Management raised its stake in Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 72 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 106 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. boosted its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after purchasing an additional 75 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

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Palo Alto Networks Price Performance

PANW traded up $1.64 during midday trading on Monday, reaching $169.98. 5,094,857 shares of the company's stock were exchanged, compared to its average volume of 5,901,528. Palo Alto Networks, Inc. has a 1-year low of $135.18 and a 1-year high of $208.39. The stock has a market capitalization of $112.54 billion, a PE ratio of 95.76, a P/E/G ratio of 5.64 and a beta of 1.07. The business's 50-day moving average price is $182.29 and its 200 day moving average price is $184.90.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PANW. Loop Capital decreased their target price on shares of Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. KeyCorp lifted their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday. Citigroup boosted their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, February 25th. Finally, StockNews.com downgraded shares of Palo Alto Networks from a "buy" rating to a "hold" rating in a research report on Tuesday, December 24th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.52.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 99,707 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the sale, the executive vice president now owns 358,197 shares of the company's stock, valued at $65,353,042.65. This trade represents a 21.77 % 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, CEO Nikesh Arora sold 490,723 shares of the firm's 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 completion of the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. The trade was a 31.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 939,318 shares of company stock valued at $165,384,602 in the last quarter. Company insiders own 2.50% of the company's stock.

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.