Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Huntington National Bank

Huntington National Bank boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 114.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,352 shares of the network technology company's stock after buying an additional 256,042 shares during the period. Huntington National Bank owned approximately 0.07% of Palo Alto Networks worth $87,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its position in shares of Palo Alto Networks by 94.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock valued at $2,122,000 after purchasing an additional 5,658 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Palo Alto Networks by 108.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock worth $3,886,000 after buying an additional 11,095 shares during the last quarter. National Pension Service raised its holdings in shares of Palo Alto Networks by 82.1% in the fourth quarter. National Pension Service now owns 1,345,740 shares of the network technology company's stock worth $244,871,000 after buying an additional 606,778 shares during the last quarter. Mosley Wealth Management lifted its stake in shares of Palo Alto Networks by 116.2% during the fourth quarter. Mosley Wealth Management now owns 3,023 shares of the network technology company's stock worth $561,000 after buying an additional 1,625 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Palo Alto Networks by 31.7% during the fourth quarter. Blue Trust Inc. now owns 3,883 shares of the network technology company's stock valued at $707,000 after buying an additional 934 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

A number of analysts have commented on PANW shares. Barclays lowered their price target on Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating for the company in a research report on Tuesday, December 17th. Citigroup lifted their target price on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Scotiabank increased their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. Evercore ISI decreased their price objective on shares of Palo Alto Networks from $455.00 to $230.00 and set an "outperform" rating for the company in a research note on Tuesday, December 31st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $204.27.

Palo Alto Networks Stock Up 1.1 %

Shares of Palo Alto Networks stock traded up $1.87 on Wednesday, hitting $173.18. 3,338,552 shares of the company were exchanged, compared to its average volume of 5,881,771. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The stock has a market capitalization of $114.66 billion, a price-to-earnings ratio of 97.57, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The company has a 50-day moving average price of $186.72 and a 200 day moving average price of $185.38.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. The trade was a 1.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nikesh Arora sold 176,242 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the sale, the chief executive officer now owns 1,086,404 shares of the company's stock, valued at $195,596,176.16. This represents a 13.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is owned by company insiders.

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.