Indiana Trust & Investment Management Co Has $251,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Indiana Trust & Investment Management Co raised its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 733 shares of the network technology company’s stock after acquiring an additional 69 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in Palo Alto Networks were worth $251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Palo Alto Networks by 3.6% during the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares in the last quarter. Swedbank AB bought a new stake in Palo Alto Networks in the 1st quarter valued at about $177,933,000. Altshuler Shaham Ltd raised its stake in Palo Alto Networks by 444,100.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after buying an additional 444,100 shares during the period. Legal & General Group Plc boosted its holdings in Palo Alto Networks by 8.5% in the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after acquiring an additional 255,060 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after acquiring an additional 198,078 shares during the period. Institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PANW. BMO Capital Markets upped their target price on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. BTIG Research raised their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Stifel Nicolaus increased their price target on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird increased their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Eleven analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $372.28.

Palo Alto Networks Trading Down 1.1 %

Palo Alto Networks stock traded down $4.23 on Wednesday, hitting $370.21. 537,577 shares of the stock traded hands, compared to its average volume of 4,048,825. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $380.84. The firm has a market cap of $119.87 billion, a P/E ratio of 53.78, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13. The business’s fifty day simple moving average is $345.25 and its 200 day simple moving average is $321.26.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 earnings per share. As a group, analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock worth $118,643,279 in the last three months. Insiders own 3.30% of the company’s stock.

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.