First County Bank CT Has $1.15 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

First County Bank CT cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,384 shares of the network technology company’s stock after selling 103 shares during the period. First County Bank CT’s holdings in Palo Alto Networks were worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 1,002,239 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Palo Alto Networks by 8.5% during the 2nd 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. Jennison Associates LLC raised its holdings in shares of 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 purchasing an additional 198,078 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Palo Alto Networks by 5.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after purchasing an additional 114,742 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its position in shares of Palo Alto Networks by 8.0% in the second quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock worth $339,183,000 after purchasing an additional 73,922 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 125,866 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The disclosure for this sale can be found here. Insiders have sold 464,075 shares of company stock valued at $154,029,567 over the last ninety days. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Down 0.5 %

PANW stock opened at $338.73 on Friday. The company’s 50-day moving average price is $337.02 and its two-hundred day moving average price is $314.78. The firm has a market cap of $109.68 billion, a P/E ratio of 49.23, a P/E/G ratio of 4.99 and a beta of 1.13. Palo Alto Networks, Inc. has a 12 month low of $228.32 and a 12 month high of $380.84.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PANW. UBS Group lifted their price target on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Northland Securities increased their price target on 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. Rosenblatt Securities boosted their price target on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Robert W. Baird increased their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, Royal Bank of Canada raised their target price on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Thirteen equities research 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. According to MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

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.