Trinity Legacy Partners LLC Cuts Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Trinity Legacy Partners LLC lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,853 shares of the network technology company’s stock after selling 369 shares during the quarter. Trinity Legacy Partners LLC’s holdings in Palo Alto Networks were worth $4,806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks during the 1st quarter worth approximately $25,000. Capital Advisors Ltd. LLC increased its position in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares during the last quarter. Sound Income Strategies LLC raised its stake in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its stake in shares of Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $387.00 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $234.15 and a fifty-two week high of $387.21. The firm has a market capitalization of $126.01 billion, a price-to-earnings ratio of 53.38, a PEG ratio of 5.23 and a beta of 1.12. The stock’s 50-day simple moving average is $353.98 and its 200-day simple moving average is $331.32.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm earned $0.80 EPS. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Wedbush reissued an “outperform” rating and set a $375.00 target price on shares of Palo Alto Networks in a research report on Friday, August 16th. Stifel Nicolaus raised their price target on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Scotiabank boosted their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Susquehanna increased their target price on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated 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 completion of the sale, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 in the last 90 days. Insiders own 2.50% of the company’s stock.

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.