Keybank National Association OH Has $5.33 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Keybank National Association OH increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 141.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,268 shares of the network technology company's stock after purchasing an additional 17,130 shares during the quarter. Keybank National Association OH's holdings in Palo Alto Networks were worth $5,326,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Horan Capital Advisors LLC. lifted its stake in Palo Alto Networks by 99.7% in the fourth quarter. Horan Capital Advisors LLC. now owns 12,762 shares of the network technology company's stock valued at $2,322,000 after acquiring an additional 6,373 shares during the last quarter. Mainstream Capital Management LLC lifted its stake in Palo Alto Networks by 101.0% in the fourth quarter. Mainstream Capital Management LLC now owns 6,801 shares of the network technology company's stock valued at $1,238,000 after acquiring an additional 3,418 shares during the last quarter. Westover Capital Advisors LLC lifted its stake in Palo Alto Networks by 98.7% in the fourth quarter. Westover Capital Advisors LLC now owns 9,736 shares of the network technology company's stock valued at $1,772,000 after acquiring an additional 4,837 shares during the last quarter. Exencial Wealth Advisors LLC lifted its stake in Palo Alto Networks by 56.4% in the fourth quarter. Exencial Wealth Advisors LLC now owns 6,485 shares of the network technology company's stock valued at $1,180,000 after acquiring an additional 2,338 shares during the last quarter. Finally, AMJ Financial Wealth Management lifted its stake in Palo Alto Networks by 161.4% in the fourth quarter. AMJ Financial Wealth Management now owns 45,023 shares of the network technology company's stock valued at $8,192,000 after acquiring an additional 27,799 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.1 %

Shares of Palo Alto Networks stock opened at $184.28 on Thursday. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The firm's 50-day moving average price is $186.34 and its two-hundred day moving average price is $184.74. The stock has a market capitalization of $122.01 billion, a price-to-earnings ratio of 103.82, a P/E/G ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS 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 business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 176,242 shares of Palo Alto Networks stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68. Following the completion of the transaction, the chief executive officer now directly owns 1,086,404 shares of the company's stock, valued at $195,596,176.16. The trade was a 13.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $18,191,542.15. Following the completion of the transaction, the executive vice president now directly owns 358,197 shares of the company's stock, valued at $65,353,042.65. This represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 over the last ninety days. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on PANW. Needham & Company LLC lifted their target price on shares of Palo Alto Networks from $192.50 to $225.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their target price on shares of Palo Alto Networks from $225.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Barclays reduced their target price on shares of Palo Alto Networks from $425.00 to $213.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. JMP Securities lifted their price target on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Finally, Westpark Capital reissued a "hold" rating and issued a $196.40 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and an average target price of $205.06.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.