Plimoth Trust Co. LLC Has $1.82 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Plimoth Trust Co. LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 54.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,665 shares of the network technology company’s stock after purchasing an additional 3,781 shares during the period. Plimoth Trust Co. LLC’s holdings in Palo Alto Networks were worth $1,820,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Palo Alto Networks by 104.4% in the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after buying an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC grew its holdings in Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock worth $2,611,013,000 after acquiring an additional 6,725,148 shares during the last quarter. Norges Bank acquired a new stake in Palo Alto Networks in the 4th quarter valued at about $970,736,000. Northern Trust Corp raised its stake in shares of Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock worth $1,427,048,000 after acquiring an additional 4,486,654 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PANW. KeyCorp restated an “overweight” rating and issued a $220.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Truist Financial dropped their target price on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, March 31st. HSBC upgraded Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price target on the stock in a report on Thursday, April 10th. Barclays dropped their price objective on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, May 21st. Finally, Stephens lowered shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Palo Alto Networks Trading Down 1.1%

PANW opened at $199.78 on Thursday. The firm’s fifty day simple moving average is $186.18 and its 200 day simple moving average is $185.26. The stock has a market capitalization of $133.21 billion, a P/E ratio of 114.16, a P/E/G ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the sale, the executive vice president now directly owns 264,246 shares in the company, valued at $51,564,964.44. This trade represents a 31.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 789,736 shares of company stock worth $139,837,528. Corporate insiders own 2.50% of the company’s stock.

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.