Trust Investment Advisors Sells 38 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Trust Investment Advisors reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,281 shares of the network technology company’s stock after selling 38 shares during the quarter. Palo Alto Networks makes up approximately 1.6% of Trust Investment Advisors’ portfolio, making the stock its 8th biggest position. Trust Investment Advisors’ holdings in Palo Alto Networks were worth $2,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PANW. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the first quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares during the period. Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks during the first quarter worth about $30,000. Finally, Central Bank & Trust Co. increased its stake in shares of Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 1.2 %

NASDAQ PANW opened at $333.60 on Friday. The stock has a market capitalization of $108.62 billion, a P/E ratio of 48.49, a P/E/G ratio of 5.03 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84. The firm has a 50-day moving average price of $336.32 and a 200 day moving average price of $312.89.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business posted $0.80 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the transaction, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the sale, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction, 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 ninety days, insiders have sold 464,075 shares of company stock worth $154,029,567. Corporate insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PANW shares. Wells Fargo & Company lifted their price target on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price target on Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Northland Securities upped their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley raised their target price on Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Thirteen 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’s stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $366.08.

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.