Massmutual Trust Co. FSB ADV Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Massmutual Trust Co. FSB ADV boosted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1,767.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,767 shares of the network technology company’s stock after purchasing an additional 11,137 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Palo Alto Networks were worth $3,989,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Horizon Family Wealth Inc. increased its position in Palo Alto Networks by 1.1% during the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after purchasing an additional 28 shares during the period. MV Capital Management Inc. lifted its holdings in Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after buying an additional 29 shares during the period. Manchester Capital Management LLC boosted its position in Palo Alto Networks by 17.2% during the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after acquiring an additional 30 shares in the last quarter. Argonautica Private Wealth Management Inc. increased its holdings in shares of Palo Alto Networks by 2.3% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock valued at $450,000 after acquiring an additional 34 shares during the period. Finally, Sepio Capital LP lifted its stake in shares of Palo Alto Networks by 3.7% during the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock worth $278,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the transaction, the director now owns 3,767 shares in the company, valued at $1,167,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Aparna Bawa sold 322 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the transaction, the director now directly owns 3,767 shares in the company, valued at approximately $1,167,770. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 307,315 shares of company stock valued at $100,940,790. 3.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PANW has been the subject of several research reports. Royal Bank of Canada lowered their price objective on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating for the company in a research note on Tuesday, May 21st. BMO Capital Markets lifted their price objective on Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. DA Davidson assumed coverage on shares of Palo Alto Networks in a report on Friday, June 21st. They set a “buy” rating and a $380.00 price target for the company. KeyCorp decreased their price objective on Palo Alto Networks from $384.00 to $380.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Finally, Argus raised their target price on Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.59.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded down $11.42 on Monday, hitting $294.18. The stock had a trading volume of 4,475,943 shares, compared to its average volume of 4,442,619. The stock has a 50 day moving average of $321.74 and a 200 day moving average of $311.96. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The firm has a market capitalization of $95.26 billion, a P/E ratio of 43.48, a PEG ratio of 4.16 and a beta of 1.14.

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

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.