Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Coastline Trust Co

Coastline Trust Co grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,426 shares of the network technology company's stock after buying an additional 3,037 shares during the quarter. Palo Alto Networks accounts for approximately 1.7% of Coastline Trust Co's holdings, making the stock its 16th biggest holding. Coastline Trust Co's holdings in Palo Alto Networks were worth $13,895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Transce3nd LLC bought a new position in Palo Alto Networks during the fourth quarter valued at $25,000. Strategic Investment Solutions Inc. IL boosted its stake in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after purchasing an additional 55 shares during the period. Anchor Investment Management LLC grew its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. raised its position in Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after purchasing an additional 75 shares during the period. Finally, Capital A Wealth Management LLC purchased a new stake in Palo Alto Networks in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PANW shares. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut their price objective on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Northland Securities reduced their target price on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 target price on Palo Alto Networks and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities restated a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Insiders Place Their Bets

In related news, CAO Josh D. Paul sold 800 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the transaction, the chief accounting officer directly owned 42,033 shares of the company's stock, valued at $8,450,734.65. This represents a 1.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 568,122 shares of company stock worth $101,726,398 over the last quarter. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Down 0.3%

Shares of Palo Alto Networks stock traded down $0.61 on Wednesday, reaching $196.97. The stock had a trading volume of 3,365,211 shares, compared to its average volume of 5,391,857. The stock has a market capitalization of $131.34 billion, a P/E ratio of 112.55, a P/E/G ratio of 5.71 and a beta of 0.97. The company has a 50 day moving average price of $192.27 and a 200 day moving average price of $185.37. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.66 earnings per share. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.