Cambridge Trust Co. Cuts Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cambridge Trust Co. trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 19.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,513 shares of the network technology company's stock after selling 23,325 shares during the period. Palo Alto Networks comprises 1.2% of Cambridge Trust Co.'s holdings, making the stock its 27th biggest holding. Cambridge Trust Co.'s holdings in Palo Alto Networks were worth $28,165,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group grew its holdings in Palo Alto Networks by 46.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company's stock valued at $1,232,000 after purchasing an additional 1,325 shares during the last quarter. Groesbeck Investment Management Corp NJ grew its stake in Palo Alto Networks by 38.4% in the 4th quarter. Groesbeck Investment Management Corp NJ now owns 1,495 shares of the network technology company's stock worth $441,000 after acquiring an additional 415 shares in the last quarter. Federated Hermes Inc. grew its stake in Palo Alto Networks by 26.1% in the 4th quarter. Federated Hermes Inc. now owns 363,133 shares of the network technology company's stock worth $107,081,000 after acquiring an additional 75,183 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Palo Alto Networks by 74.6% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 782 shares of the network technology company's stock worth $230,000 after acquiring an additional 334 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Palo Alto Networks in the 4th quarter worth about $9,878,000. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In related news, President William D. Jenkins, Jr. sold 1,867 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the sale, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,917 shares of company stock worth $49,395,553. 3.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on PANW. Stifel Nicolaus restated a "buy" rating and issued a $330.00 target price on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Capital One Financial downgraded shares of Palo Alto Networks from an "overweight" rating to an "equal weight" rating and set a $302.00 target price on the stock. in a research note on Wednesday, February 21st. Royal Bank of Canada upped their target price on shares of Palo Alto Networks to $420.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. JMP Securities restated a "market outperform" rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Finally, Truist Financial increased their price objective on shares of Palo Alto Networks from $330.00 to $385.00 and gave the company a "buy" rating in a research note on Tuesday, February 20th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.82.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $3.81 during trading on Thursday, hitting $281.14. 3,853,848 shares of the company's stock were exchanged, compared to its average volume of 5,596,438. The business has a 50-day simple moving average of $299.16 and a 200-day simple moving average of $290.18. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84. The stock has a market capitalization of $90.84 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 3.75 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal 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.