Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Trinity Legacy Partners LLC

Trinity Legacy Partners LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 107.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,672 shares of the network technology company’s stock after acquiring an additional 13,819 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Palo Alto Networks were worth $4,853,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Palo Alto Networks by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock valued at $2,609,486,000 after purchasing an additional 220,900 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Palo Alto Networks by 83.0% in the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after buying an additional 2,612,474 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after acquiring an additional 3,249,594 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Palo Alto Networks by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock valued at $685,364,000 after purchasing an additional 31,595 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Palo Alto Networks by 199.1% during the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock worth $333,925,000 after acquiring an additional 1,213,073 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Nir Zuk sold 336,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the transaction, the executive vice president now directly owns 3,643,516 shares of the company’s stock, valued at approximately $705,730,831.62. The trade was a 8.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 235,492 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,458,864 shares of company stock valued at $269,397,331 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Trading Down 3.1 %

Shares of NASDAQ:PANW opened at $198.81 on Friday. The stock has a market cap of $131.63 billion, a PE ratio of 112.01, a price-to-earnings-growth ratio of 5.82 and a beta of 1.14. The stock’s fifty day simple moving average is $187.23 and its two-hundred day simple moving average is $182.84. Palo Alto Networks, Inc. has a 1-year low of $130.04 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Palo Alto Networks from $193.50 to $224.50 and gave the company an “overweight” rating in a research report on Monday, November 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $223.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. UBS Group raised their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Susquehanna raised their target price on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research report on Tuesday. Finally, TD Cowen boosted their price objective on shares of Palo Alto Networks from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $202.70.

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.