Trinity Financial Advisors LLC Sells 3,214 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Trinity Financial Advisors LLC decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 71.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,306 shares of the network technology company's stock after selling 3,214 shares during the period. Trinity Financial Advisors LLC's holdings in Palo Alto Networks were worth $223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PANW. Vanguard Group Inc. increased its stake in shares of Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Palo Alto Networks by 87.8% in the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after purchasing an additional 6,725,148 shares during the last quarter. Norges Bank bought a new position in shares of Palo Alto Networks in the 4th quarter valued at $970,736,000. Northern Trust Corp increased its stake in shares of Palo Alto Networks by 133.7% in the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after purchasing an additional 4,486,654 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock valued at $1,533,419,000 after acquiring an additional 3,841,359 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Activity

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the completion of the transaction, the executive vice president now owns 264,246 shares in the company, valued at $51,564,964.44. This represents a 31.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the transaction, the chief executive officer now owns 317,571 shares of the company's stock, valued at $54,854,038.83. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock valued at $139,837,528 over the last three months. Corporate insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

PANW has been the topic of several recent research reports. Roth Capital initiated coverage on Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective on the stock. Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Wells Fargo & Company raised their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. UBS Group raised their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Finally, Northland Securities cut their target price on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average target price of $208.00.

Palo Alto Networks Stock Performance

PANW traded down $1.40 during midday trading on Friday, reaching $196.27. 3,815,861 shares of the company were exchanged, compared to its average volume of 5,484,807. The company's fifty day moving average price is $184.15 and its 200 day moving average price is $185.06. The company has a market cap of $130.87 billion, a price-to-earnings ratio of 110.58, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. As a group, sell-side analysts anticipate 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.