Greenleaf Trust Acquires 1,441 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Greenleaf Trust boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 32.9% in the 4th quarter, HoldingsChannel reports. The firm owned 5,820 shares of the network technology company’s stock after purchasing an additional 1,441 shares during the quarter. Greenleaf Trust’s holdings in Palo Alto Networks were worth $1,716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Worth Asset Management LLC bought a new position in shares of Palo Alto Networks during the 1st quarter valued at approximately $26,000. First Pacific Financial boosted its position in shares of Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of Palo Alto Networks during the 2nd quarter valued at approximately $28,000. Fortis Capital Advisors LLC bought a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $28,000. Finally, Webster Bank N. A. boosted its position in shares of Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $277.71 on Friday. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84. The stock’s 50-day moving average is $295.46 and its 200 day moving average is $290.81. The company has a market cap of $89.73 billion, a P/E ratio of 43.39, a PEG ratio of 3.79 and a beta of 1.19.

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

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of 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 filing with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Wedbush raised their price target on Palo Alto Networks from $350.00 to $425.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Truist Financial raised their price target on Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price target for the company. in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada raised their price target on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

View Our Latest Stock Report on Palo Alto Networks

Palo Alto Networks Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANWFree Report).

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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