1,992 Shares in Palo Alto Networks, Inc. (NASDAQ:PANW) Acquired by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC purchased a new position in Palo Alto Networks, Inc. (NASDAQ:PANW) during the 4th quarter, Holdings Channel.com reports. The firm purchased 1,992 shares of the network technology company’s stock, valued at approximately $587,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PANW. RB Capital Management LLC lifted its position in Palo Alto Networks by 19.9% in the 1st quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock valued at $375,000 after acquiring an additional 100 shares in the last quarter. Morgens Waterfall Vintiadis & Co. Inc. bought a new position in Palo Alto Networks in the 1st quarter valued at approximately $6,910,000. United Bank lifted its position in Palo Alto Networks by 11.7% in the 1st quarter. United Bank now owns 2,822 shares of the network technology company’s stock valued at $1,757,000 after acquiring an additional 296 shares in the last quarter. Yousif Capital Management LLC lifted its position in Palo Alto Networks by 13.6% in the 1st quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock valued at $963,000 after acquiring an additional 185 shares in the last quarter. Finally, Prudential PLC bought a new position in Palo Alto Networks in the 1st quarter valued at approximately $1,022,000. 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 several analyst reports. Wedbush upped their price objective on Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 21st. KeyCorp lowered their price target on Palo Alto Networks from $390.00 to $380.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Barclays lowered their price target on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Finally, Loop Capital cut Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a report on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Stock Performance

NASDAQ PANW traded up $2.87 during trading on Tuesday, hitting $275.02. The stock had a trading volume of 3,626,704 shares, compared to its average volume of 5,653,573. The stock has a market capitalization of $88.86 billion, a price-to-earnings ratio of 42.97, a P/E/G ratio of 3.80 and a beta of 1.19. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84. The stock has a 50 day simple moving average of $302.23 and a 200 day simple moving average of $289.99.

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

Insider Activity

In other news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction that occurred 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 completion of the sale, the president now owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction that occurred 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 transaction, the president now directly owns 25,812 shares in the company, valued at $7,230,715.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 167,917 shares of company stock valued at $49,395,553. Corporate 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.