Zions Bancorporation N.A. Purchases 21,594 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Zions Bancorporation N.A. lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 132.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,910 shares of the network technology company's stock after acquiring an additional 21,594 shares during the quarter. Zions Bancorporation N.A.'s holdings in Palo Alto Networks were worth $6,898,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its position in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company's stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Valued Wealth Advisors LLC lifted its stake in Palo Alto Networks by 246.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company's stock valued at $26,000 after acquiring an additional 101 shares during the period. Abound Wealth Management lifted its position in Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after buying an additional 106 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

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Analyst Ratings Changes

A number of research firms have recently commented on PANW. Citigroup boosted their price objective 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. Morgan Stanley set a $230.00 price target on Palo Alto Networks in a research report on Tuesday, March 18th. Susquehanna lifted their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a research note on Tuesday, February 18th. JMP Securities upped their price target on Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a research note on Friday, February 14th. Finally, Scotiabank lifted their target price on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $205.06.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 700 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the sale, the chief accounting officer now directly owns 47,976 shares of the company's stock, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 235,492 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the sale, the chief executive officer now owns 1,086,404 shares of the company's stock, valued at approximately $199,159,581.28. The trade was a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,122,864 shares of company stock valued at $204,315,811. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded down $1.49 during trading hours on Friday, reaching $172.95. 2,861,358 shares of the stock were exchanged, compared to its average volume of 5,898,570. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39. The stock's fifty day simple moving average is $187.47 and its 200 day simple moving average is $185.31. The firm has a market capitalization of $114.51 billion, a price-to-earnings ratio of 97.33, a P/E/G ratio of 5.64 and a beta of 1.04.

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

Palo Alto Networks Company 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.