AAFMAA Wealth Management & Trust LLC Has $1.33 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

AAFMAA Wealth Management & Trust LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,691 shares of the network technology company’s stock after purchasing an additional 342 shares during the period. AAFMAA Wealth Management & Trust LLC’s holdings in Palo Alto Networks were worth $1,333,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. GSG Advisors LLC grew its position in Palo Alto Networks by 1.0% in the fourth quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after acquiring an additional 51 shares during the last quarter. Spirit of America Management Corp NY grew its holdings in shares of Palo Alto Networks by 50.0% during the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after purchasing an additional 100 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in Palo Alto Networks by 31.4% during the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock worth $33,038,000 after purchasing an additional 26,767 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Palo Alto Networks by 9.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after purchasing an additional 2,225 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in Palo Alto Networks by 91.0% in the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after buying an additional 802 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 1.3 %

Shares of NASDAQ:PANW traded down $4.45 during mid-day trading on Monday, hitting $337.64. 2,926,649 shares of the company traded hands, compared to its average volume of 4,739,336. The stock has a 50-day moving average price of $312.19 and a two-hundred day moving average price of $308.38. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84. The stock has a market cap of $109.33 billion, a P/E ratio of 48.47, a P/E/G ratio of 5.24 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Wall Street Analyst Weigh In

PANW has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a research note on Friday, June 21st. JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Evercore ISI lowered their price objective on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a research note on Tuesday, May 14th. Morgan Stanley reiterated an “overweight” rating and set a $360.00 target price on shares of Palo Alto Networks in a research report on Wednesday, June 12th. Finally, KeyCorp upped their price target on shares of Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Twelve research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 121,276 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60. Following the transaction, the executive vice president now owns 166,542 shares in the company, valued at approximately $49,895,983.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Lee Klarich sold 121,276 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the sale, the executive vice president now directly owns 166,542 shares of the company’s stock, valued at approximately $49,895,983.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the completion of the transaction, the executive vice president now directly owns 1,295,567 shares in the company, valued at $373,434,232.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 302,525 shares of company stock worth $93,982,207. 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.