Texas Bank & Trust Co Takes Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Texas Bank & Trust Co purchased a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,209 shares of the network technology company’s stock, valued at approximately $948,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after purchasing an additional 55 shares during the period. SJS Investment Consulting Inc. boosted its stake in Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after purchasing an additional 69 shares during the period. Rakuten Securities Inc. boosted its stake in Palo Alto Networks by 8.4% in the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company’s stock worth $165,000 after purchasing an additional 70 shares during the period. Cedar Mountain Advisors LLC boosted its stake in Palo Alto Networks by 70.3% in the 4th quarter. Cedar Mountain Advisors LLC now owns 172 shares of the network technology company’s stock worth $31,000 after purchasing an additional 71 shares during the period. Finally, Quarry LP boosted its stake in Palo Alto Networks by 16.9% in the 4th quarter. Quarry LP now owns 511 shares of the network technology company’s stock worth $93,000 after purchasing an additional 74 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nikesh Arora sold 227,414 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 568,962 shares of company stock worth $96,933,690 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Up 0.0%

Shares of PANW opened at $192.98 on Friday. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The firm’s 50 day moving average is $177.37 and its 200-day moving average is $185.13. The stock has a market capitalization of $127.77 billion, a PE ratio of 108.72, a P/E/G ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (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 net margin of 14.64% and a return on equity of 21.93%. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Westpark Capital restated a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Scotiabank increased their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, January 21st. Truist Financial reduced their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Jefferies Financial Group increased their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.46.

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.