Greenleaf Trust Grows Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Greenleaf Trust increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 6.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,773 shares of the network technology company's stock after acquiring an additional 1,707 shares during the period. Greenleaf Trust's holdings in Palo Alto Networks were worth $5,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PANW. Strategic Investment Solutions Inc. IL raised its stake in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Crew Capital Management Ltd. raised its stake in shares of Palo Alto Networks by 2.5% during the first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock valued at $394,000 after acquiring an additional 57 shares during the last quarter. JDM Financial Group LLC raised its stake in shares of Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after acquiring an additional 59 shares during the last quarter. WealthBridge Capital Management LLC raised its stake in shares of Palo Alto Networks by 2.0% during the first quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company's stock valued at $523,000 after acquiring an additional 61 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its holdings in Palo Alto Networks by 0.3% in the first quarter. Penobscot Investment Management Company Inc. now owns 18,983 shares of the network technology company's stock valued at $3,239,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Stock Up 1.0%

Shares of NASDAQ:PANW traded up $2.07 on Wednesday, hitting $206.06. The company had a trading volume of 3,085,020 shares, compared to its average volume of 5,376,960. The firm's 50-day simple moving average is $194.55 and its two-hundred day simple moving average is $185.62. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The firm has a market capitalization of $137.40 billion, a price-to-earnings ratio of 117.75, a P/E/G ratio of 5.62 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping 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 analysts' expectations of $2.28 billion. During the same period last year, the company posted $0.66 EPS. The company's quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on PANW shares. JPMorgan Chase & Co. dropped their target price on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Roth Capital started coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price on the stock. TD Securities restated a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target for the company in a research note on Thursday, April 10th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a research note 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $201.05, for a total transaction of $160,840.00. Following the completion of the sale, the chief accounting officer directly owned 42,033 shares in the company, valued at approximately $8,450,734.65. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the sale, the executive vice president owned 3,343,516 shares of the company's stock, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 547,948 shares of company stock valued at $103,462,223 in the last quarter. 2.50% of the stock is owned by insiders.

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.