Trinity Financial Advisors LLC Sells 44 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Trinity Financial Advisors LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,035 shares of the network technology company’s stock after selling 44 shares during the quarter. Trinity Financial Advisors LLC’s holdings in Palo Alto Networks were worth $683,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PANW. Jones Financial Companies Lllp lifted its holdings in Palo Alto Networks by 14.0% during the 4th quarter. Jones Financial Companies Lllp now owns 545 shares of the network technology company’s stock worth $161,000 after buying an additional 67 shares during the period. Peapack Gladstone Financial Corp lifted its stake in shares of Palo Alto Networks by 9.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 3,093 shares of the network technology company’s stock worth $912,000 after acquiring an additional 276 shares during the period. Capital World Investors boosted its holdings in Palo Alto Networks by 44.8% in the fourth quarter. Capital World Investors now owns 557,969 shares of the network technology company’s stock valued at $164,534,000 after acquiring an additional 172,662 shares during the last quarter. Annex Advisory Services LLC acquired a new stake in Palo Alto Networks during the 4th quarter valued at approximately $325,000. Finally, Cetera Advisor Networks LLC raised its holdings in Palo Alto Networks by 37.0% during the 4th quarter. Cetera Advisor Networks LLC now owns 64,926 shares of the network technology company’s stock worth $19,145,000 after purchasing an additional 17,548 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PANW shares. Oppenheimer lifted their target price on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Citigroup lifted their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft upped their target price on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their target price on Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company increased their price target on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $369.26.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the transaction, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares of the company’s stock, valued at $219,505,142.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 395,732 shares of company stock worth $130,785,557. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 1.1 %

Palo Alto Networks stock opened at $335.94 on Friday. Palo Alto Networks, Inc. has a 12-month low of $233.35 and a 12-month high of $380.84. The firm has a 50-day moving average price of $337.63 and a 200-day moving average price of $316.49. The firm has a market capitalization of $109.38 billion, a PE ratio of 48.83, a price-to-earnings-growth ratio of 4.87 and a beta of 1.13.

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