FineMark National Bank & Trust Boosts Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

FineMark National Bank & Trust lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,557 shares of the network technology company’s stock after purchasing an additional 476 shares during the quarter. FineMark National Bank & Trust’s holdings in Palo Alto Networks were worth $1,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PANW. Webster Bank N. A. lifted its position in shares of Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. MV Capital Management Inc. boosted its position in Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after buying an additional 29 shares during the last quarter. First United Bank & Trust purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $35,000. Finally, Alaska Permanent Fund Corp purchased a new stake in Palo Alto Networks in the fourth quarter valued at approximately $42,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 121,276 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the transaction, the executive vice president now owns 166,542 shares in the company, valued at approximately $49,895,983.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 121,276 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the sale, the executive vice president now directly owns 166,542 shares in the company, valued at $49,895,983.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at $373,434,232.08. The disclosure for this sale can be found here. Insiders sold a total of 278,326 shares of company stock worth $80,147,130 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 3.5 %

PANW traded up $10.79 on Friday, hitting $322.23. 2,590,461 shares of the stock traded hands, compared to its average volume of 5,140,104. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week high of $380.84. The firm has a market capitalization of $104.34 billion, a PE ratio of 46.42, a P/E/G ratio of 4.99 and a beta of 1.18. The business has a fifty day moving average price of $289.58 and a two-hundred day moving average price of $299.15.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 2.79 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on PANW. Loop Capital downgraded Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research note on Wednesday, February 21st. Capital One Financial cut Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a report on Wednesday, February 21st. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a report on Tuesday. Sanford C. Bernstein raised their target price on Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Evercore ISI lowered their target price on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a report on Tuesday, May 14th. Twelve investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $317.45.

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.