Global Trust Asset Management LLC Sells 224 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Global Trust Asset Management LLC reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,409 shares of the network technology company’s stock after selling 224 shares during the period. Palo Alto Networks makes up about 0.9% of Global Trust Asset Management LLC’s holdings, making the stock its 27th largest holding. Global Trust Asset Management LLC’s holdings in Palo Alto Networks were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in PANW. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter worth $25,000. Strategic Investment Solutions Inc. IL raised its position in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 79 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 78 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. raised its position in shares of Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after buying an additional 75 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $198.11 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The company has a market cap of $132.10 billion, a PE ratio of 111.61, a P/E/G ratio of 5.64 and a beta of 0.97. The stock’s 50-day moving average is $185.07 and its 200 day moving average is $185.04.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the business earned $0.66 EPS. Palo Alto Networks’s revenue was up 15.3% compared to the same quarter last year. Analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PANW. Truist Financial lowered their price objective on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Jefferies Financial Group increased their price objective on Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Cantor Fitzgerald restated an “overweight” rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. Barclays lowered their price target on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. Finally, Hsbc Global Res upgraded Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the sale, the executive vice president now directly owns 264,246 shares in the company, valued at approximately $51,564,964.44. The trade was a 31.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 789,736 shares of company stock worth $139,837,528 in the last 90 days. Company insiders own 2.50% of the company’s stock.

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.