Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.5% during the 2nd quarter, Holdings Channel reports. The fund owned 5,846 shares of the network technology company’s stock after acquiring an additional 86 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Palo Alto Networks were worth $1,982,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Horizon Family Wealth Inc. raised its stake in shares of Palo Alto Networks by 1.1% during the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock worth $726,000 after buying an additional 28 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of Palo Alto Networks by 17.2% during the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock worth $60,000 after buying an additional 30 shares during the last quarter. Cascade Investment Group Inc. raised its stake in shares of Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares during the last quarter. Sepio Capital LP raised its stake in shares of Palo Alto Networks by 3.7% during the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock worth $278,000 after buying an additional 34 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its stake in shares of Palo Alto Networks by 2.4% during the 1st quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded up $11.41 during mid-day trading on Thursday, hitting $361.85. The company’s stock had a trading volume of 1,578,743 shares, compared to its average volume of 4,375,229. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84. The firm’s 50 day moving average is $331.38 and its 200 day moving average is $310.58. The company has a market cap of $117.17 billion, a PE ratio of 52.74, a price-to-earnings-growth ratio of 4.40 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm posted $0.80 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, analysts forecast that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the subject of several analyst reports. Morgan Stanley boosted their target price on shares of Palo Alto Networks from $360.00 to $390.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Daiwa America raised shares of Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Bank of America boosted their target price on shares of Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Susquehanna boosted their target price on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a research note on Tuesday, May 21st. Finally, Macquarie boosted their target price on shares of Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $363.49.

Insider Activity

In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at $8,443,916. The disclosure for this sale can be found here. In the last quarter, insiders have sold 376,372 shares of company stock valued at $121,925,593. Insiders own 3.30% of the company’s stock.

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.