Coastline Trust Co Increases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Coastline Trust Co lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,111 shares of the network technology company’s stock after purchasing an additional 4,245 shares during the quarter. Palo Alto Networks comprises about 1.5% of Coastline Trust Co’s holdings, making the stock its 15th biggest holding. Coastline Trust Co’s holdings in Palo Alto Networks were worth $13,026,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nwam LLC boosted its holdings in Palo Alto Networks by 16.8% in the first quarter. Nwam LLC now owns 1,278 shares of the network technology company’s stock valued at $390,000 after purchasing an additional 184 shares during the period. M&G Plc purchased a new position in shares of Palo Alto Networks in the 1st quarter valued at about $1,965,000. First Foundation Advisors grew its position in shares of Palo Alto Networks by 37.8% during the first quarter. First Foundation Advisors now owns 259 shares of the network technology company’s stock worth $74,000 after buying an additional 71 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Palo Alto Networks by 265.0% during the first quarter. Intech Investment Management LLC now owns 4,957 shares of the network technology company’s stock worth $1,408,000 after buying an additional 3,599 shares during the period. Finally, Cercano Management LLC purchased a new stake in shares of Palo Alto Networks during the first quarter worth approximately $15,498,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 1.9 %

Shares of Palo Alto Networks stock opened at $387.00 on Friday. The company has a 50-day moving average of $359.86 and a two-hundred day moving average of $336.07. The stock has a market cap of $126.01 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 5.84 and a beta of 1.12. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PANW. Needham & Company LLC boosted their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Wedbush reissued an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a report on Friday, August 16th. Evercore ISI lifted their price target on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Cantor Fitzgerald upgraded Palo Alto Networks to a “strong-buy” rating in a report on Friday, November 1st. Finally, Bank of America upped their price target on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $381.56.

Insider Buying and Selling at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were 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 of the company’s stock, valued at approximately $10,983,359.33. The trade was a 24.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 11.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 255,252 shares of company stock worth $89,383,077. 2.50% of the stock is owned by corporate insiders.

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.