Kesler Norman & Wride LLC Has $960,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Kesler Norman & Wride LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 99.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,273 shares of the network technology company's stock after purchasing an additional 2,635 shares during the period. Kesler Norman & Wride LLC's holdings in Palo Alto Networks were worth $960,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC grew its holdings in Palo Alto Networks by 1.5% during the third quarter. Howard Capital Management Group LLC now owns 106,248 shares of the network technology company's stock worth $36,316,000 after acquiring an additional 1,619 shares during the period. United Bank grew its stake in shares of Palo Alto Networks by 1.3% in the 3rd quarter. United Bank now owns 6,835 shares of the network technology company's stock worth $2,336,000 after purchasing an additional 90 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Palo Alto Networks by 406.6% in the 3rd quarter. Benjamin Edwards Inc. now owns 29,744 shares of the network technology company's stock worth $10,166,000 after purchasing an additional 23,873 shares during the last quarter. Community Bank N.A. raised its holdings in shares of Palo Alto Networks by 5.0% in the 3rd quarter. Community Bank N.A. now owns 2,573 shares of the network technology company's stock worth $879,000 after purchasing an additional 122 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its holdings in Palo Alto Networks by 149.1% during the third quarter. Hilltop Holdings Inc. now owns 6,001 shares of the network technology company's stock worth $2,051,000 after buying an additional 3,592 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several research analysts have issued reports on the company. Loop Capital dropped their price target on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a report on Tuesday, January 14th. Stephens assumed coverage on Palo Alto Networks in a research report on Tuesday. They set an "equal weight" rating and a $205.00 target price on the stock. Citigroup increased their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. UBS Group boosted their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Finally, Morgan Stanley set a $230.00 target price on shares of Palo Alto Networks in a report on Tuesday, March 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $204.27.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the 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 completion of the sale, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $179.70, for a total value of $21,564,000.00. Following the transaction, the executive vice president now owns 365,856 shares in the company, valued at $65,744,323.20. This represents a 24.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,122,864 shares of company stock valued at $204,315,811 in the last ninety days. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded up $1.87 during trading hours on Wednesday, hitting $173.18. 3,338,552 shares of the company's stock were exchanged, compared to its average volume of 5,881,771. The company's 50-day moving average price is $186.72 and its 200-day moving average price is $185.38. 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 PEG ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued 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. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.