First Financial Corp IN Sells 639 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

First Financial Corp IN lessened its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 16.0% during the first quarter, Holdings Channel.com reports. The fund owned 3,346 shares of the network technology company’s stock after selling 639 shares during the period. First Financial Corp IN’s holdings in Palo Alto Networks were worth $951,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Palo Alto Networks in the fourth quarter worth $1,563,020,000. International Assets Investment Management LLC lifted its position in Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after acquiring an additional 2,050,917 shares during the period. Jennison Associates LLC grew its holdings in Palo Alto Networks by 83.1% in the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after purchasing an additional 1,187,915 shares during the period. Vanguard Group Inc. increased its stake in shares of Palo Alto Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after purchasing an additional 1,058,127 shares in the last quarter. Finally, Axiom Investors LLC DE boosted its position in shares of Palo Alto Networks by 359.3% in the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after purchasing an additional 749,199 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, President William D. Jenkins, Jr. sold 1,621 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the sale, the president now owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the company’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 transaction, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 258,182 shares of company stock valued at $74,850,597. Corporate insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Susquehanna boosted their price target on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research note on Tuesday, May 21st. Argus increased their price objective on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Sanford C. Bernstein upped their target price on shares of Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Finally, Wedbush reissued an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Twelve research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $324.17.

Palo Alto Networks Trading Up 0.5 %

Shares of NASDAQ PANW traded up $1.69 during midday trading on Wednesday, hitting $324.37. The company’s stock had a trading volume of 981,033 shares, compared to its average volume of 4,835,145. The business’s 50 day moving average is $303.68 and its two-hundred day moving average is $306.50. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84. The firm has a market cap of $105.03 billion, a P/E ratio of 47.13, a price-to-earnings-growth ratio of 4.94 and a beta of 1.10.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $0.38 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

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.