Sanibel Captiva Trust Company Inc. Sells 937 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Sanibel Captiva Trust Company Inc. lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 20,923 shares of the network technology company’s stock after selling 937 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Palo Alto Networks were worth $3,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PANW. Transce3nd LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its holdings in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC raised its holdings in shares of Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

PANW stock opened at $195.95 on Wednesday. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The business’s 50-day moving average is $181.56 and its two-hundred day moving average is $185.03. The company has a market cap of $130.66 billion, a price-to-earnings ratio of 110.39, a P/E/G ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. Palo Alto Networks’s revenue was up 15.3% on a year-over-year basis. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at $48,629,704.62. This trade represents a 27.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at $54,854,038.83. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 789,736 shares of company stock valued at $139,837,528 over the last quarter. 2.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on PANW. JPMorgan Chase & Co. decreased their target price on Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating for the company in a report on Wednesday, May 21st. Truist Financial reduced their price target on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Citigroup upped their price target on Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. TD Securities reaffirmed a “buy” rating and issued a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $235.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.00.

About Palo Alto Networks

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.