Coastline Trust Co Sells 210 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Coastline Trust Co lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 8.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,150 shares of the network technology company’s stock after selling 210 shares during the quarter. Coastline Trust Co’s holdings in Palo Alto Networks were worth $1,197,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Stonebridge Financial Planning Group LLC increased its holdings in Palo Alto Networks by 17.1% in the 4th quarter. Stonebridge Financial Planning Group LLC now owns 205 shares of the network technology company’s stock valued at $102,000 after buying an additional 30 shares during the period. Evergreen Capital Management LLC increased its holdings in Palo Alto Networks by 5.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 13,455 shares of the network technology company’s stock valued at $6,445,000 after buying an additional 678 shares during the period. Illinois Municipal Retirement Fund grew its holdings in shares of Palo Alto Networks by 26.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 6,004 shares of the network technology company’s stock worth $3,343,000 after purchasing an additional 1,249 shares during the last quarter. Lyell Wealth Management LP grew its holdings in shares of Palo Alto Networks by 3.1% in the 3rd quarter. Lyell Wealth Management LP now owns 26,722 shares of the network technology company’s stock worth $12,800,000 after purchasing an additional 802 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Palo Alto Networks by 13.8% in the 3rd quarter. Two Sigma Advisers LP now owns 783,602 shares of the network technology company’s stock worth $375,345,000 after purchasing an additional 94,900 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Mark D. Mclaughlin sold 9,500 shares of the firm’s stock in a transaction on Tuesday, March 22nd. The shares were sold at an average price of $598.00, for a total value of $5,681,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 4,001 shares of the firm’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $559.22, for a total value of $2,237,439.22. The disclosure for this sale can be found here. Insiders have sold a total of 67,532 shares of company stock valued at $38,909,567 over the last ninety days. Company insiders own 2.20% of the company’s stock.

PANW has been the topic of several analyst reports. Raymond James upped their target price on shares of Palo Alto Networks from $600.00 to $610.00 and gave the stock an “outperform” rating in a report on Wednesday, February 23rd. Northland Securities upped their target price on shares of Palo Alto Networks from $585.00 to $605.00 and gave the stock an “outperform” rating in a report on Wednesday, February 23rd. Citigroup increased their price objective on shares of Palo Alto Networks from $585.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, February 23rd. Royal Bank of Canada increased their price objective on shares of Palo Alto Networks from $670.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, March 25th. Finally, JMP Securities began coverage on shares of Palo Alto Networks in a report on Tuesday, February 22nd. They set an “outperform” rating and a $620.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $631.94.

PANW stock traded up $28.43 during mid-day trading on Tuesday, hitting $487.94. 57,512 shares of the company were exchanged, compared to its average volume of 1,691,775. The firm has a market cap of $48.05 billion, a P/E ratio of -96.94 and a beta of 1.28. The firm’s 50 day simple moving average is $583.70 and its 200 day simple moving average is $543.12. Palo Alto Networks, Inc. has a 1-year low of $322.23 and a 1-year high of $640.90.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last announced its earnings results on Tuesday, February 22nd. The network technology company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.22). The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.28 billion. Palo Alto Networks had a negative return on equity of 42.84% and a negative net margin of 9.50%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.42) earnings per share. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post -1.29 EPS for the current fiscal year.

About Palo Alto Networks (Get Rating)

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer's network and instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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