Cambridge Trust Co. Has $28.17 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cambridge Trust Co. cut its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 19.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 95,513 shares of the network technology company’s stock after selling 23,325 shares during the quarter. Palo Alto Networks makes up approximately 1.2% of Cambridge Trust Co.’s investment portfolio, making the stock its 27th largest holding. Cambridge Trust Co.’s holdings in Palo Alto Networks were worth $28,165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Palo Alto Networks in the 4th quarter worth $751,276,000. International Assets Investment Management LLC grew its position in Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after purchasing an additional 2,050,917 shares during the last quarter. Moneta Group Investment Advisors LLC acquired a new stake in Palo Alto Networks in the 4th quarter worth $204,728,000. T. Rowe Price Investment Management Inc. acquired a new stake in Palo Alto Networks in the 4th quarter worth $85,025,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Palo Alto Networks by 6,453.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock worth $102,670,000 after purchasing an additional 431,228 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 1.1 %

Shares of PANW stock traded up $2.92 during trading on Thursday, reaching $280.25. The company’s stock had a trading volume of 2,160,630 shares, compared to its average volume of 5,573,424. The business has a fifty day moving average price of $299.16 and a 200-day moving average price of $290.18. The company has a market cap of $90.55 billion, a price-to-earnings ratio of 44.04, a price-to-earnings-growth ratio of 3.75 and a beta of 1.19. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The business had revenue of $1.98 billion for 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%. Research analysts anticipate that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the company’s 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 sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock valued at $49,395,553 over the last 90 days. 3.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Loop Capital lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research report on Wednesday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a report on Wednesday. Mizuho reduced their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a report on Monday, January 29th. Finally, Piper Sandler cut shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $350.00 to $300.00 in a research report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Company 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.