Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,190 shares of the network technology company’s stock after selling 71 shares during the quarter. Heartland Bank & Trust Co’s holdings in Palo Alto Networks were worth $749,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Palo Alto Networks by 3.6% during the first 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 in the last quarter. Swedbank AB purchased a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $177,933,000. Altshuler Shaham Ltd lifted its holdings in shares of Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after buying an additional 444,100 shares during the period. Legal & General Group Plc boosted its stake in shares of Palo Alto Networks by 8.5% in the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after buying an additional 255,060 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after buying an additional 198,078 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

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

Analysts Set New Price Targets

A number of equities research analysts have commented on PANW shares. TD Cowen raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Redburn Atlantic cut Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $350.00 to $325.00 in a report on Thursday, July 18th. Evercore ISI raised their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Wedbush reissued an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a research note on Friday, August 16th. Finally, Citigroup upped their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.82.

Palo Alto Networks Trading Down 4.8 %

NASDAQ PANW opened at $358.19 on Thursday. The stock has a market cap of $115.98 billion, a P/E ratio of 52.06, a PEG ratio of 5.43 and a beta of 1.13. The company’s fifty day simple moving average is $350.84 and its 200-day simple moving average is $325.17. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, research analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

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.