First National Trust Co Has $6.88 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

First National Trust Co lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 418.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,337 shares of the network technology company’s stock after acquiring an additional 18,835 shares during the period. First National Trust Co’s holdings in Palo Alto Networks were worth $6,882,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PANW. Webster Bank N. A. boosted its holdings in shares of Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC grew its holdings in shares of Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the last quarter. Byrne Asset Management LLC increased its stake in shares of Palo Alto Networks by 277.8% in the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock valued at $32,000 after buying an additional 100 shares during the period. MV Capital Management Inc. raised its holdings in Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after buying an additional 29 shares during the last quarter. Finally, Alaska Permanent Fund Corp acquired a new stake in Palo Alto Networks during the 4th quarter worth approximately $42,000. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,917 shares of company stock valued at $44,335,843. Insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Oppenheimer upped their target price on Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price for the company. in a report on Wednesday, February 21st. Truist Financial raised their price objective on shares of Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada raised their price target on shares of Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Stock Up 0.3 %

Shares of NASDAQ:PANW traded up $0.89 on Friday, hitting $296.21. The company had a trading volume of 3,438,974 shares, compared to its average volume of 3,429,938. The firm’s 50-day simple moving average is $285.98 and its two-hundred day simple moving average is $293.25. Palo Alto Networks, Inc. has a 1 year low of $177.09 and a 1 year high of $380.84. The firm has a market capitalization of $95.71 billion, a price-to-earnings ratio of 46.28, a P/E/G ratio of 4.03 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.77 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.