Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Indiana Trust & Investment Management CO

Indiana Trust & Investment Management CO raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 714 shares of the network technology company’s stock after acquiring an additional 74 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Palo Alto Networks were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC raised its holdings in Palo Alto Networks by 19.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,235 shares of the network technology company’s stock worth $351,000 after buying an additional 200 shares during the period. GuoLine Advisory Pte Ltd raised its stake in Palo Alto Networks by 19.2% during the 1st quarter. GuoLine Advisory Pte Ltd now owns 143,800 shares of the network technology company’s stock valued at $40,858,000 after purchasing an additional 23,200 shares during the period. Jessup Wealth Management Inc boosted its position in shares of Palo Alto Networks by 19.6% in the first quarter. Jessup Wealth Management Inc now owns 1,196 shares of the network technology company’s stock worth $340,000 after buying an additional 196 shares during the period. Congress Park Capital LLC grew its holdings in shares of Palo Alto Networks by 49.0% during the first quarter. Congress Park Capital LLC now owns 2,130 shares of the network technology company’s stock valued at $605,000 after buying an additional 700 shares in the last quarter. Finally, Chesley Taft & Associates LLC lifted its stake in Palo Alto Networks by 16.7% in the 1st quarter. Chesley Taft & Associates LLC now owns 89,339 shares of the network technology company’s stock worth $25,384,000 after acquiring an additional 12,793 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

PANW traded down $1.81 on Friday, hitting $339.01. 4,169,639 shares of the company were exchanged, compared to its average volume of 4,845,565. The stock’s fifty day moving average is $304.64 and its 200-day moving average is $306.64. The company has a market cap of $109.77 billion, a PE ratio of 49.59, a PEG ratio of 4.98 and a beta of 1.10. Palo Alto Networks, Inc. has a 12 month low of $201.17 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the transaction, the president now directly owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, President William D. Jenkins, Jr. sold 1,621 shares of Palo Alto Networks stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the sale, the president now owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The disclosure for this sale can be found here. Insiders have sold a total of 258,182 shares of company stock worth $74,850,597 over the last ninety days. Insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada reduced their price objective on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Stifel Nicolaus reissued a “buy” rating and issued a $330.00 target price on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Macquarie raised their price target on shares of Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. DA Davidson assumed coverage on Palo Alto Networks in a report on Friday, June 21st. They set a “buy” rating and a $380.00 price objective on the stock. Finally, BMO Capital Markets boosted their target price on Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Twelve analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

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.