First American Trust FSB Sells 248 Shares of Palo Alto Networks, Inc. $PANW

First American Trust FSB cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.6% in the second quarter, HoldingsChannel reports. The fund owned 38,121 shares of the network technology company’s stock after selling 248 shares during the period. First American Trust FSB’s holdings in Palo Alto Networks were worth $7,801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. Whipplewood Advisors LLC lifted its holdings in Palo Alto Networks by 6,400.0% during the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Palo Alto Networks in the second quarter worth $28,000. MTM Investment Management LLC bought a new stake in shares of Palo Alto Networks during the 2nd quarter valued at $31,000. Dagco Inc. purchased a new position in shares of Palo Alto Networks during the 1st quarter valued at $33,000. Finally, WPG Advisers LLC bought a new position in Palo Alto Networks in the 1st quarter worth $37,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on PANW. DA Davidson raised their price target on Palo Alto Networks from $215.00 to $240.00 and gave the company a “buy” rating in a report on Monday. BMO Capital Markets increased their target price on Palo Alto Networks from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday. Scotiabank boosted their price target on Palo Alto Networks from $225.00 to $228.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 19th. Robert W. Baird upped their price target on Palo Alto Networks from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Sanford C. Bernstein set a $207.00 price objective on shares of Palo Alto Networks and gave the company an “outperform” rating in a research report on Tuesday, August 19th. Twenty-nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $223.24.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $202.90 on Tuesday. The company has a market cap of $138.78 billion, a price-to-earnings ratio of 126.42, a PEG ratio of 4.88 and a beta of 0.95. Palo Alto Networks, Inc. has a 1 year low of $144.15 and a 1 year high of $223.61. The stock’s 50 day simple moving average is $209.18 and its two-hundred day simple moving average is $197.32.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, August 18th. The network technology company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.06. Palo Alto Networks had a net margin of 12.30% and a return on equity of 17.66%. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. Palo Alto Networks’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $204.19, for a total transaction of $1,020,950.00. Following the sale, the executive vice president directly owned 96,135 shares in the company, valued at approximately $19,629,805.65. This represents a 4.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 846,408 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $204.06, for a total transaction of $172,718,016.48. Following the completion of the transaction, the chief executive officer directly owned 275,013 shares of the company’s stock, valued at approximately $56,119,152.78. The trade was a 75.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,215,830 shares of company stock valued at $249,160,428. Corporate insiders own 1.40% of the company’s stock.

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.