Plimoth Trust Co. LLC Acquires New Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Plimoth Trust Co. LLC bought a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,219 shares of the network technology company’s stock, valued at approximately $1,100,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks in the 1st quarter worth $25,000. Financial Synergies Wealth Advisors Inc. lifted its stake in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 67 shares during the period. Cape Investment Advisory Inc. grew its position in Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Finally, New England Capital Financial Advisors LLC increased its stake in Palo Alto Networks by 833.3% in the 1st quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after purchasing an additional 100 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on PANW shares. Barclays lifted their target price on shares of Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird upped their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. TD Cowen raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Stifel Nicolaus upped their price target on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, UBS Group lifted their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $375.79.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded up $3.58 during mid-day trading on Monday, reaching $378.41. 2,110,532 shares of the stock traded hands, compared to its average volume of 4,026,694. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The business’s 50-day moving average is $348.67 and its 200-day moving average is $323.39. The stock has a market capitalization of $122.53 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 EPS. Equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock valued at $118,643,279 in the last 90 days. Company insiders own 3.30% of the company’s stock.

About Palo Alto Networks

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.