Harbour Trust & Investment Management Co Acquires 1,330 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Harbour Trust & Investment Management Co boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,666 shares of the network technology company’s stock after purchasing an additional 1,330 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Palo Alto Networks were worth $6,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks in the first quarter worth approximately $25,000. Sound Income Strategies LLC grew its holdings in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares during the last quarter. Cape Investment Advisory Inc. increased its position in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after acquiring an additional 100 shares during the period. New England Capital Financial Advisors LLC raised its stake in shares of Palo Alto Networks by 833.3% during the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Finally, First PREMIER Bank boosted its holdings in shares of Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $364.58 on Friday. The company has a 50 day moving average price of $350.84 and a 200 day moving average price of $325.17. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00. The firm has a market capitalization of $118.71 billion, a price-to-earnings ratio of 50.29, a P/E/G ratio of 5.45 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $0.80 earnings per share. Equities analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on PANW. Susquehanna upped their price target on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. Sanford C. Bernstein upped their target price on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. DA Davidson lifted their price target on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Royal Bank of Canada upped their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Finally, Redburn Atlantic lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their target price for the company from $350.00 to $325.00 in a research note on Thursday, July 18th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.82.

Insider Activity

In other news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock valued at $118,643,279 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

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.