Trinity Legacy Partners LLC Increases Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Trinity Legacy Partners LLC raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 107.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,672 shares of the network technology company’s stock after purchasing an additional 13,819 shares during the period. Trinity Legacy Partners LLC’s holdings in Palo Alto Networks were worth $4,853,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in Palo Alto Networks by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 7,656,968 shares of the network technology company’s stock worth $2,609,486,000 after buying an additional 220,900 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after acquiring an additional 2,612,474 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after purchasing an additional 3,249,594 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Palo Alto Networks by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock valued at $685,364,000 after purchasing an additional 31,595 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Palo Alto Networks by 199.1% in the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock worth $333,925,000 after purchasing an additional 1,213,073 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PANW shares. TD Cowen boosted their target price on shares of Palo Alto Networks from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a research report on Thursday, November 21st. Northland Securities restated a “market perform” rating and set a $185.00 price target (up from $175.00) on shares of Palo Alto Networks in a research note on Thursday, November 21st. KeyCorp upped their price target on shares of Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a report on Monday, November 18th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $202.70.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $198.81 on Friday. The firm has a market cap of $131.63 billion, a price-to-earnings ratio of 112.01, a price-to-earnings-growth ratio of 5.82 and a beta of 1.14. The firm’s fifty day moving average price is $187.23 and its 200 day moving average price is $182.84. Palo Alto Networks, Inc. has a 1-year low of $130.04 and a 1-year high of $208.39.

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

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 490,723 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. The trade was a 31.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 336,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the completion of the transaction, the executive vice president now directly owns 3,643,516 shares in the company, valued at $705,730,831.62. This trade represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,458,864 shares of company stock valued at $269,397,331 in the last quarter. 2.50% of the stock is currently owned by company insiders.

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.