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

Huntington National Bank decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,950 shares of the network technology company’s stock after selling 62 shares during the period. Huntington National Bank’s holdings in Palo Alto Networks were worth $926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GSG Advisors LLC acquired a new position in shares of Palo Alto Networks during the 3rd quarter valued at $1,198,000. Investment Management Corp of Ontario acquired a new position in Palo Alto Networks in the 2nd quarter worth $7,002,000. Eagle Strategies LLC acquired a new position in Palo Alto Networks in the 2nd quarter worth $1,454,000. Nisa Investment Advisors LLC lifted its holdings in Palo Alto Networks by 76.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 53,872 shares of the network technology company’s stock worth $12,630,000 after buying an additional 23,342 shares in the last quarter. Finally, Portside Wealth Group LLC acquired a new position in Palo Alto Networks in the 2nd quarter worth $1,610,000. Institutional investors and hedge funds own 85.69% of the company’s stock.

Palo Alto Networks Stock Up 2.7 %

PANW opened at $376.90 on Friday. The firm has a market capitalization of $118.84 billion, a P/E ratio of 214.15, a price-to-earnings-growth ratio of 5.05 and a beta of 1.26. The stock’s 50 day moving average price is $317.23 and its two-hundred day moving average price is $269.01. Palo Alto Networks, Inc. has a 12-month low of $162.81 and a 12-month high of $380.84.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its earnings results on Wednesday, November 15th. The network technology company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.84 billion. Palo Alto Networks had a return on equity of 48.58% and a net margin of 8.52%. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 2.64 earnings per share for the current year.

Analyst Ratings Changes

PANW has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on shares of Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Stifel Nicolaus restated a “buy” rating and issued a $280.00 target price on shares of Palo Alto Networks in a research note on Tuesday, November 14th. Wedbush increased their price objective on shares of Palo Alto Networks from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, December 14th. DZ Bank initiated coverage on shares of Palo Alto Networks in a research note on Wednesday, October 18th. They issued a “buy” rating and a $310.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Palo Alto Networks from $272.00 to $326.00 and gave the company an “overweight” rating in a research note on Monday, December 11th. Six equities research analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $289.15.

Read Our Latest Research Report on Palo Alto Networks

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Donovan sold 8,100 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $330.04, for a total value of $2,673,324.00. Following the completion of the sale, the director now owns 30,352 shares of the company’s stock, valued at approximately $10,017,374.08. The disclosure for this sale can be found here. Insiders have sold 419,426 shares of company stock valued at $119,134,439 in the last 90 days. 3.30% of the stock is currently owned by insiders.

About Palo Alto Networks

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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