AAFMAA Wealth Management & Trust LLC Purchases 1,154 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

AAFMAA Wealth Management & Trust LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,754 shares of the network technology company’s stock after buying an additional 1,154 shares during the quarter. AAFMAA Wealth Management & Trust LLC’s holdings in Palo Alto Networks were worth $1,494,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after acquiring an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Palo Alto Networks by 87.8% in the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after purchasing an additional 6,725,148 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Palo Alto Networks by 83.8% in the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after purchasing an additional 3,841,359 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Palo Alto Networks by 133.7% during the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock valued at $1,427,048,000 after purchasing an additional 4,486,654 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Palo Alto Networks by 17.6% during the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company’s stock worth $1,324,387,000 after purchasing an additional 1,088,631 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the transaction, the executive vice president now owns 264,246 shares of the company’s stock, valued at approximately $51,564,964.44. This trade represents a 31.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the transaction, the executive vice president now owns 3,543,516 shares of the company’s stock, valued at $586,132,981.56. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 Performance

Palo Alto Networks stock opened at $199.60 on Friday. The stock has a market capitalization of $133.09 billion, a price-to-earnings ratio of 112.45, a PEG ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The stock’s 50 day moving average price is $180.48 and its two-hundred day moving average price is $185.09.

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 analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Palo Alto Networks’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Sanford C. Bernstein set a $225.00 price target on Palo Alto Networks and gave the company an “outperform” rating in a research note on Wednesday, May 21st. Stephens downgraded Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Northland Securities reduced their price objective on Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a report on Monday, May 19th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $208.00.

Palo Alto Networks 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.