Whittier Trust Co. of Nevada Inc. Has $1.98 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,846 shares of the network technology company’s stock after acquiring an additional 86 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Palo Alto Networks were worth $1,982,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the 1st quarter valued at $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. raised its position in shares of Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. Ulland Investment Advisors LLC bought a new stake in shares of Palo Alto Networks during the 1st quarter valued at $30,000. Finally, Central Bank & Trust Co. increased its position in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 3.3 %

Shares of Palo Alto Networks stock traded up $11.41 on Thursday, hitting $361.85. 1,578,743 shares of the company traded hands, compared to its average volume of 4,375,229. The firm’s 50-day simple moving average is $331.38 and its 200 day simple moving average is $310.58. The company has a market cap of $117.17 billion, a P/E ratio of 52.74, a P/E/G ratio of 4.40 and a beta of 1.14. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $0.80 EPS. Analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research note on Friday, August 16th. DA Davidson lifted their price target on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Morgan Stanley lifted their price target on shares of Palo Alto Networks from $360.00 to $390.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Northland Securities lifted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research report on Tuesday, August 20th. Finally, Needham & Company LLC lifted their price target on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $363.49.

Insiders Place Their Bets

In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $293.31, for a total value of $10,559,160.00. Following the completion of the sale, the executive vice president now directly owns 1,259,567 shares in the company, valued at $369,443,596.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Lee Klarich sold 800 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $300.21, for a total value of $240,168.00. Following the completion of the sale, the executive vice president now directly owns 166,542 shares in the company, valued at $49,997,573.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the completion of the sale, the executive vice president now owns 1,259,567 shares of the company’s stock, valued at $369,443,596.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 376,372 shares of company stock valued at $121,925,593. Insiders own 3.30% of the company’s stock.

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.