Fiduciary Trust Co Has $17.15 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fiduciary Trust Co lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 103.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,264 shares of the network technology company's stock after acquiring an additional 47,939 shares during the quarter. Fiduciary Trust Co's holdings in Palo Alto Networks were worth $17,152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after buying an additional 31,281,359 shares during the period. Geode Capital Management LLC increased its stake 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 buying an additional 6,725,148 shares during the period. Capital Research Global Investors increased its stake in Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after buying an additional 3,841,359 shares during the period. Northern Trust Corp increased its position in shares of Palo Alto Networks by 133.7% in the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after purchasing an additional 4,486,654 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Palo Alto Networks by 17.6% in the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock worth $1,324,387,000 after purchasing an additional 1,088,631 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the sale, the executive vice president now owns 293,010 shares in the company, valued at $55,458,002.70. This represents a 29.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 568,962 shares of company stock worth $96,933,690 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded down $1.60 during trading on Friday, reaching $186.93. The company had a trading volume of 3,209,190 shares, compared to its average volume of 5,733,951. The firm's fifty day moving average is $176.07 and its 200 day moving average is $184.78. The firm has a market capitalization of $123.77 billion, a PE ratio of 105.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PANW has been the subject of several research analyst reports. KeyCorp dropped their target price on shares of Palo Alto Networks from $240.00 to $205.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. JMP Securities boosted their target price on shares of Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a research report on Friday, February 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $223.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Finally, Scotiabank boosted their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $203.06.

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.