Trust Point Inc. Has $597,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Trust Point Inc. grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,746 shares of the network technology company’s stock after purchasing an additional 77 shares during the period. Trust Point Inc.’s holdings in Palo Alto Networks were worth $597,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PANW. Kathmere Capital Management LLC increased its holdings in shares of Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after buying an additional 30 shares in the last quarter. FLC Capital Advisors increased its stake in shares of Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares in the last quarter. Cascade Investment Group Inc. raised its holdings in shares of Palo Alto Networks by 2.9% in the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after buying an additional 31 shares during the last quarter. Herbst Group LLC lifted its position in Palo Alto Networks by 0.3% during the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock worth $3,313,000 after buying an additional 31 shares in the last quarter. Finally, First PREMIER Bank grew its holdings in Palo Alto Networks by 48.4% during the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after acquiring an additional 31 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated 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 $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the business’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 transaction of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at $8,014,746.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 351,452 shares of company stock worth $118,643,279. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

PANW opened at $374.83 on Friday. The firm has a market cap of $122.04 billion, a P/E ratio of 51.70, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. The business’s fifty day moving average is $348.67 and its 200-day moving average is $322.67. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $380.84.

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

Analysts Set New Price Targets

Several research firms have recently commented on PANW. Robert W. Baird increased their price target on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Piper Sandler raised their price target on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Stifel Nicolaus raised their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Finally, Oppenheimer lifted their target price on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.79.

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.