Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Bought by Coastline Trust Co

Coastline Trust Co boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 105.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,389 shares of the network technology company’s stock after buying an additional 40,278 shares during the quarter. Palo Alto Networks accounts for approximately 1.7% of Coastline Trust Co’s investment portfolio, making the stock its 15th largest position. Coastline Trust Co’s holdings in Palo Alto Networks were worth $14,264,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Uniting Wealth Partners LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at $548,000. Whittier Trust Co. of Nevada Inc. increased its position in Palo Alto Networks by 94.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock worth $2,122,000 after purchasing an additional 5,658 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in Palo Alto Networks by 108.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company’s stock worth $3,886,000 after purchasing an additional 11,095 shares during the period. National Pension Service raised its position in Palo Alto Networks by 82.1% in the 4th quarter. National Pension Service now owns 1,345,740 shares of the network technology company’s stock valued at $244,871,000 after buying an additional 606,778 shares during the last quarter. Finally, Mosley Wealth Management raised its holdings in shares of Palo Alto Networks by 116.2% in the fourth quarter. Mosley Wealth Management now owns 3,023 shares of the network technology company’s stock valued at $561,000 after purchasing an additional 1,625 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palo Alto Networks

In other news, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at $8,694,210.72. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,039,318 shares of company stock valued at $181,925,602 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $167.69 on Friday. The stock’s 50 day moving average price is $180.06 and its 200 day moving average price is $184.73. The firm has a market capitalization of $111.03 billion, a PE ratio of 94.47, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a one year low of $137.60 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PANW. Royal Bank of Canada restated an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a research note on Monday, February 10th. Stephens started coverage on Palo Alto Networks in a report on Tuesday, April 1st. They set an “equal weight” rating and a $205.00 price target for the company. Loop Capital reduced their target price on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. JMP Securities increased their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, Scotiabank lifted their price target on Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.06.

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.