Harbour Trust & Investment Management Co Purchases 4,991 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Harbour Trust & Investment Management Co boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 11.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,361 shares of the network technology company's stock after buying an additional 4,991 shares during the quarter. Harbour Trust & Investment Management Co's holdings in Palo Alto Networks were worth $8,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Transce3nd LLC purchased a new stake in Palo Alto Networks in the fourth quarter worth $25,000. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares during the period. Kiely Wealth Advisory Group Inc. boosted its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares during the period. Anchor Investment Management LLC boosted its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 78 shares during the period. Finally, Capital A Wealth Management LLC bought a new position in shares of Palo Alto Networks in the fourth quarter worth $29,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president owned 321,774 shares in the company, valued at $48,629,704.62. The trade was a 27.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the transaction, the executive vice president owned 3,343,516 shares in the company, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 668,722 shares of company stock worth $121,714,798 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on PANW shares. JPMorgan Chase & Co. cut their price target on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Northland Securities cut their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a report on Wednesday, May 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a report on Monday, May 19th. Morgan Stanley cut their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Barclays dropped their price objective on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average target price of $208.00.

Palo Alto Networks Stock Up 2.3%

Shares of PANW traded up $4.53 during trading hours on Thursday, hitting $201.50. The company had a trading volume of 2,561,725 shares, compared to its average volume of 5,398,532. The firm has a market cap of $134.36 billion, a P/E ratio of 115.14, a P/E/G ratio of 5.50 and a beta of 0.97. The stock's 50 day moving average price is $193.35 and its 200 day moving average price is $185.44. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39.

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 analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the business earned $0.66 EPS. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS 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.