Trust Co. of Toledo NA OH Has $11.38 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Trust Co. of Toledo NA OH lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,306 shares of the network technology company’s stock after purchasing an additional 974 shares during the quarter. Palo Alto Networks accounts for approximately 1.5% of Trust Co. of Toledo NA OH’s investment portfolio, making the stock its 10th biggest holding. Trust Co. of Toledo NA OH’s holdings in Palo Alto Networks were worth $11,384,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after purchasing an additional 1,002,239 shares during the last quarter. Legal & General Group Plc increased its holdings in Palo Alto Networks by 8.5% during the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after buying an additional 255,060 shares during the last quarter. Jennison Associates LLC raised its position in Palo Alto Networks by 7.6% during the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after acquiring an additional 198,078 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Palo Alto Networks by 5.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock valued at $757,321,000 after acquiring an additional 114,742 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in shares of Palo Alto Networks by 8.0% during the 2nd quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock worth $339,183,000 after purchasing an additional 73,922 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $332.13 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $230.09 and a 52-week high of $380.84. The company has a market capitalization of $108.14 billion, a PE ratio of 48.27, a price-to-earnings-growth ratio of 4.87 and a beta of 1.13. The company has a fifty day moving average of $337.31 and a 200-day moving average of $316.36.

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

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the business’s 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 sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated 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 of the company’s stock, valued at approximately $8,014,746.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. The disclosure for this sale can be found here. Insiders sold a total of 359,732 shares of company stock worth $118,815,557 in the last quarter. 3.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Robert W. Baird lifted their target price on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. The Goldman Sachs Group increased their price target on Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. KeyCorp lifted their price objective on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Sanford C. Bernstein increased their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Twelve equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $369.26.

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.