CHICAGO TRUST Co NA Sells 129 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

CHICAGO TRUST Co NA decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,235 shares of the network technology company’s stock after selling 129 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Palo Alto Networks were worth $893,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PANW. Brighton Jones LLC grew its stake in shares of Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Consolidated Portfolio Review Corp grew its stake in shares of Palo Alto Networks by 100.7% in the fourth quarter. Consolidated Portfolio Review Corp now owns 1,730 shares of the network technology company’s stock worth $315,000 after purchasing an additional 868 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter worth $4,772,000. Conning Inc. grew its stake in shares of Palo Alto Networks by 93.7% in the fourth quarter. Conning Inc. now owns 2,832 shares of the network technology company’s stock worth $515,000 after purchasing an additional 1,370 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in Palo Alto Networks by 262.1% in the fourth quarter. Apollon Wealth Management LLC now owns 31,887 shares of the network technology company’s stock valued at $5,802,000 after buying an additional 23,081 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $199.60 on Monday. The firm has a market cap of $133.09 billion, a price-to-earnings ratio of 112.45, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The firm has a 50-day moving average price of $180.48 and a two-hundred day moving average price of $184.92.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the sale, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. This trade represents a 27.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 789,736 shares of company stock worth $139,837,528. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PANW. KeyCorp restated an “overweight” rating and issued a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Northland Securities dropped their target price on shares of Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating on the stock in a report on Wednesday, May 21st. Westpark Capital restated a “hold” rating and issued a $196.40 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price on the stock in a report on Thursday, April 10th. Finally, Citigroup boosted their target price on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

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.