Trust Co. of Vermont Raises Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Trust Co. of Vermont raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,399 shares of the network technology company's stock after acquiring an additional 1,383 shares during the period. Palo Alto Networks makes up 1.4% of Trust Co. of Vermont's portfolio, making the stock its 13th biggest position. Trust Co. of Vermont's holdings in Palo Alto Networks were worth $28,565,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL grew its position 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 worth $26,000 after purchasing an additional 55 shares in the last quarter. JDM Financial Group LLC grew its holdings in Palo Alto Networks by 22.4% during the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after buying an additional 59 shares in the last quarter. Penobscot Investment Management Company Inc. grew its holdings in Palo Alto Networks by 0.3% during the 1st 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 in the last quarter. Adero Partners LLC grew its holdings in Palo Alto Networks by 4.3% during the 1st quarter. Adero Partners LLC now owns 1,556 shares of the network technology company's stock valued at $266,000 after buying an additional 64 shares in the last quarter. Finally, Snider Financial Group grew its holdings in Palo Alto Networks by 0.4% during the 1st quarter. Snider Financial Group now owns 17,729 shares of the network technology company's stock valued at $3,025,000 after buying an additional 65 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Down 1.0%

Shares of Palo Alto Networks stock opened at $202.34 on Friday. The company has a 50 day moving average price of $190.04 and a 200 day moving average price of $185.39. The firm has a market capitalization of $134.92 billion, a P/E ratio of 115.62, a PEG ratio of 5.70 and a beta of 0.97. 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 released its earnings results 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 company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial cut their price target on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. 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. 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. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a report on Monday, May 19th. Finally, 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. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the transaction, the executive vice president now directly owns 101,135 shares of the company's stock, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 800 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the transaction, the chief accounting officer now directly owns 42,033 shares of the company's stock, valued at $8,450,734.65. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 795,536 shares of company stock valued at $141,007,618. 2.50% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.