CENTRAL TRUST Co Sells 3,067 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

CENTRAL TRUST Co reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 22.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,351 shares of the network technology company’s stock after selling 3,067 shares during the quarter. CENTRAL TRUST Co’s holdings in Palo Alto Networks were worth $3,538,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $25,000. Sound Income Strategies LLC boosted its position 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 worth $29,000 after purchasing an additional 67 shares during the period. Cape Investment Advisory Inc. increased its holdings in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. New England Capital Financial Advisors LLC raised its position in shares of Palo Alto Networks by 833.3% in the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Finally, First PREMIER Bank lifted its stake in shares of Palo Alto Networks by 48.4% during the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of several research analyst reports. Truist Financial increased their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a report on Monday, August 19th. Stifel Nicolaus upped their price objective on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their target price on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Finally, Wedbush restated an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $376.82.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,452 shares of company stock worth $118,643,279 over the last ninety days. 3.30% of the stock is owned by insiders.

Palo Alto Networks Price Performance

PANW opened at $364.58 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $384.00. The company’s 50 day moving average price is $350.84 and its two-hundred day moving average price is $325.17. The firm has a market capitalization of $118.71 billion, a price-to-earnings ratio of 50.29, a PEG ratio of 5.45 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.80 earnings per share. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

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.