Coastline Trust Co Increases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Coastline Trust Co lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 105.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,389 shares of the network technology company's stock after buying an additional 40,278 shares during the quarter. Palo Alto Networks makes up about 1.7% of Coastline Trust Co's investment portfolio, making the stock its 15th largest position. Coastline Trust Co's holdings in Palo Alto Networks were worth $14,264,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. lifted its position in shares of Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after purchasing an additional 69 shares during the last quarter. Valued Wealth Advisors LLC boosted its position in Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after buying an additional 101 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares during the period. Abound Wealth Management grew its stake in Palo Alto Networks by 97.3% in the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 72 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC increased its holdings in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after purchasing an additional 106 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PANW has been the subject of several recent research reports. Guggenheim lowered shares of Palo Alto Networks from a "neutral" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Monday, January 6th. BTIG Research downgraded Palo Alto Networks from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $223.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Loop Capital lowered their price target on shares of Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a report on Tuesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $190.00 price objective (down previously from $207.00) on shares of Palo Alto Networks in a research note on Wednesday, January 8th. Two 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $203.06.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company's stock, valued at $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 99,707 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total value of $18,191,542.15. Following the transaction, the executive vice president now directly owns 358,197 shares in the company, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,039,318 shares of company stock valued at $181,925,602. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded down $2.07 during mid-day trading on Friday, hitting $167.69. The company had a trading volume of 4,768,742 shares, compared to its average volume of 5,858,295. The business's 50-day simple moving average is $180.06 and its 200 day simple moving average is $184.98. Palo Alto Networks, Inc. has a 1-year low of $137.60 and a 1-year high of $208.39. The company has a market capitalization of $111.03 billion, a PE ratio of 94.47, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current 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.