Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Avalon Trust Co

Avalon Trust Co grew its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4,111.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,485 shares of the network technology company’s stock after acquiring an additional 32,690 shares during the quarter. Avalon Trust Co’s holdings in Palo Alto Networks were worth $9,874,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. GSG Advisors LLC boosted its holdings in Palo Alto Networks by 1.0% in the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after purchasing an additional 51 shares during the last quarter. Spirit of America Management Corp NY grew its position in Palo Alto Networks by 50.0% in the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after acquiring an additional 100 shares during the period. Oliver Lagore Vanvalin Investment Group grew its position in Palo Alto Networks by 46.4% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after acquiring an additional 1,325 shares during the period. Truist Financial Corp increased its stake in Palo Alto Networks by 148.9% during the third quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after acquiring an additional 113,534 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Palo Alto Networks by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock valued at $32,143,000 after purchasing an additional 735 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Palo Alto Networks from $315.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Oppenheimer lifted their target price on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Scotiabank cut their price objective on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 21st. Barclays reduced their price target on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Finally, Mizuho cut their price objective on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Price Performance

Shares of PANW traded up $0.89 during trading hours on Friday, hitting $296.21. The company’s stock had a trading volume of 3,438,974 shares, compared to its average volume of 3,429,938. The business has a 50 day simple moving average of $285.70 and a two-hundred day simple moving average of $293.01. Palo Alto Networks, Inc. has a 52-week low of $177.09 and a 52-week high of $380.84. The company has a market cap of $95.71 billion, a price-to-earnings ratio of 46.28, a PEG ratio of 4.01 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. Research analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the completion of the sale, the executive vice president now directly owns 1,295,567 shares in the company, valued at approximately $373,434,232.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00. Following the sale, the executive vice president now directly owns 1,295,567 shares in the company, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Insiders sold a total of 158,917 shares of company stock valued at $44,335,843 in the last quarter. 3.30% of the stock is owned by insiders.

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.