First American Trust FSB Has $6.55 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• First American Trust FSB increased its ownership in Palo Alto Networks by 4.9%, owning 38,369 shares valued at $6.55 million as of the latest SEC filing.
• A significant portion of Palo Alto Networks' shares, approximately 79.82%, is owned by institutional investors and hedge funds, indicating strong market confidence in the company.
• In the last quarter, insiders sold a total of 669,248 shares valued at over $126 million, marking a notable decrease in their ownership positions.

First American Trust FSB boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,369 shares of the network technology company's stock after purchasing an additional 1,777 shares during the period. First American Trust FSB's holdings in Palo Alto Networks were worth $6,547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SouthState Corp lifted its position in shares of Palo Alto Networks by 57.8% in the 1st quarter. SouthState Corp now owns 2,822 shares of the network technology company's stock valued at $481,000 after acquiring an additional 1,034 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $810,047,000. Cooper Financial Group lifted its position in shares of Palo Alto Networks by 34.3% in the 1st quarter. Cooper Financial Group now owns 2,100 shares of the network technology company's stock valued at $358,000 after acquiring an additional 536 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Palo Alto Networks by 32.3% in the 1st quarter. King Luther Capital Management Corp now owns 316,860 shares of the network technology company's stock valued at $54,069,000 after acquiring an additional 77,418 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in shares of Palo Alto Networks by 7.8% in the 1st quarter. Virtu Financial LLC now owns 25,461 shares of the network technology company's stock valued at $4,345,000 after acquiring an additional 1,834 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business's 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 transaction, the executive vice president directly owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the completion of the transaction, the executive vice president directly owned 264,246 shares of the company's stock, valued at approximately $51,564,964.44. This represents a 31.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 669,248 shares of company stock worth $126,423,337 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PANW shares. Northland Securities cut their target price on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research report on Wednesday, May 21st. JPMorgan Chase & Co. cut their target price on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. KeyCorp downgraded shares of Palo Alto Networks from an "overweight" rating to a "sector weight" rating in a research report on Thursday, July 31st. Guggenheim reiterated a "sell" rating and issued a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company increased their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $217.07.

Palo Alto Networks Trading Up 0.7%

PANW stock traded up $1.11 during trading on Monday, hitting $168.17. 10,213,853 shares of the stock traded hands, compared to its average volume of 9,916,460. Palo Alto Networks, Inc. has a one year low of $144.15 and a one year high of $210.39. The stock has a market cap of $112.14 billion, a price-to-earnings ratio of 98.27, a P/E/G ratio of 3.96 and a beta of 0.94. The company has a 50 day simple moving average of $194.23 and a 200 day simple moving average of $186.91.

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

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.