Trust Investment Advisors Buys 578 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Trust Investment Advisors raised its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,100 shares of the network technology company’s stock after buying an additional 578 shares during the period. Palo Alto Networks comprises about 1.9% of Trust Investment Advisors’ investment portfolio, making the stock its 6th biggest holding. Trust Investment Advisors’ holdings in Palo Alto Networks were worth $2,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bender Robert & Associates increased its holdings in Palo Alto Networks by 13.9% in the fourth quarter. Bender Robert & Associates now owns 7,952 shares of the network technology company’s stock worth $2,345,000 after buying an additional 970 shares during the last quarter. Xponance Inc. increased its stake in shares of Palo Alto Networks by 1.3% during the 4th quarter. Xponance Inc. now owns 69,226 shares of the network technology company’s stock worth $20,413,000 after purchasing an additional 897 shares during the last quarter. Tilt Investment Management Holdings PBC bought a new position in shares of Palo Alto Networks during the 4th quarter valued at $382,000. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Palo Alto Networks by 46.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock valued at $1,232,000 after purchasing an additional 1,325 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ lifted its stake in shares of Palo Alto Networks by 38.4% in the 4th quarter. Groesbeck Investment Management Corp NJ now owns 1,495 shares of the network technology company’s stock valued at $441,000 after purchasing an additional 415 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Up 1.4 %

Shares of Palo Alto Networks stock traded up $3.81 during mid-day trading on Thursday, reaching $281.14. 3,850,126 shares of the stock were exchanged, compared to its average volume of 5,596,420. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84. The company has a market cap of $90.84 billion, a price-to-earnings ratio of 43.93, a price-to-earnings-growth ratio of 3.75 and a beta of 1.19. The firm has a 50-day simple moving average of $299.16 and a 200 day simple moving average of $290.18.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. On average, research analysts predict that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

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 sale, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the 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 completion of the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,917 shares of company stock worth $49,395,553. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 target price on shares of Palo Alto Networks in a research report on Wednesday. Citigroup boosted their target price on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. BMO Capital Markets lowered their price target on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. The Goldman Sachs Group lifted their price target on shares of Palo Alto Networks from $274.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus 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.