Global Trust Asset Management LLC Has $1.44 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Global Trust Asset Management LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,409 shares of the network technology company’s stock after selling 224 shares during the quarter. Palo Alto Networks makes up approximately 0.9% of Global Trust Asset Management LLC’s portfolio, making the stock its 27th biggest position. Global Trust Asset Management LLC’s holdings in Palo Alto Networks were worth $1,435,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PANW. Transce3nd LLC acquired a new position in Palo Alto Networks during the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL lifted its holdings in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after buying an additional 55 shares during the period. Kiely Wealth Advisory Group Inc. lifted its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after buying an additional 75 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 79 shares during the period. Finally, Anchor Investment Management LLC lifted its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares of the company’s stock, valued at approximately $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the transaction, the chief executive officer now directly owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. This trade represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 789,736 shares of company stock valued at $139,837,528. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Up 0.9%

PANW stock opened at $198.11 on Tuesday. The firm has a market cap of $132.10 billion, a PE ratio of 111.61, a P/E/G ratio of 5.64 and a beta of 0.97. The business has a 50 day moving average of $185.07 and a 200-day moving average of $185.04. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

PANW has been the topic of several recent research reports. KeyCorp reaffirmed an “overweight” rating and set a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. HSBC raised Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective on the stock in a research note on Thursday, April 10th. Roth Capital started coverage on Palo Alto Networks in a research note on Thursday, May 15th. They issued a “neutral” rating and a $210.00 price objective on the stock. Wells Fargo & Company boosted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Finally, Hsbc Global Res raised Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.00.

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.