Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Legacy Private Trust Co.

Legacy Private Trust Co. lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 32.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,203 shares of the network technology company's stock after buying an additional 3,935 shares during the quarter. Legacy Private Trust Co.'s holdings in Palo Alto Networks were worth $2,765,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PANW. Transce3nd LLC bought a new stake in Palo Alto Networks during the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL grew its position in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 106 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 79 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its stake in 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 valued at $28,000 after acquiring an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Wall Street Analyst Weigh In

PANW has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $225.00 target price on shares of Palo Alto Networks in a research report on Monday, February 10th. JPMorgan Chase & Co. decreased their price target on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. KeyCorp restated an "overweight" rating and set a $220.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Citigroup upped their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, February 25th. 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, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Insider Activity

In related news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president now owns 3,543,516 shares of the company's stock, valued at approximately $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at $54,854,038.83. This trade represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 568,962 shares of company stock worth $96,933,690 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

NASDAQ PANW traded up $4.96 during mid-day trading on Friday, hitting $190.78. The stock had a trading volume of 11,416,203 shares, compared to its average volume of 5,559,007. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The stock has a market capitalization of $127.21 billion, a price-to-earnings ratio of 107.48, a PEG ratio of 5.64 and a beta of 1.02. The firm's 50 day moving average is $178.31 and its 200 day moving average is $184.96.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Palo Alto Networks's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Palo Alto Networks 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.