VeraBank N.A. Has $596,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

VeraBank N.A. increased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 4.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,099 shares of the network technology company’s stock after buying an additional 80 shares during the quarter. VeraBank N.A.’s holdings in Palo Alto Networks were worth $596,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. GSG Advisors LLC grew its stake in Palo Alto Networks by 1.0% during the fourth quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock worth $1,478,000 after buying an additional 51 shares during the last quarter. Spirit of America Management Corp NY grew its stake in shares of Palo Alto Networks by 50.0% during the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after purchasing an additional 100 shares during the last quarter. Beacon Pointe Advisors LLC grew its stake in shares of Palo Alto Networks by 31.4% during the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after purchasing an additional 26,767 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Palo Alto Networks by 9.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after purchasing an additional 2,225 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its stake in shares of Palo Alto Networks by 91.0% during the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after purchasing an additional 802 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the completion of the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Lee Klarich sold 121,276 shares of Palo Alto Networks stock in a transaction dated 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 owns 166,542 shares of the company’s stock, valued at approximately $49,895,983.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated 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 completion of the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 428,391 shares of company stock valued at $136,147,317. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 0.3 %

Shares of PANW traded up $0.88 during midday trading on Wednesday, reaching $337.06. The stock had a trading volume of 2,044,347 shares, compared to its average volume of 4,696,317. The firm has a 50 day simple moving average of $314.98 and a 200-day simple moving average of $309.12. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The firm has a market cap of $109.14 billion, a PE ratio of 48.99, a P/E/G ratio of 5.17 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last announced its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm posted $0.38 EPS. The company’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PANW. Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a research note on Friday, June 21st. BMO Capital Markets increased their price target on shares of Palo Alto Networks from $327.00 to $334.00 and gave the company an “outperform” rating in a research note on Tuesday, May 21st. Citigroup increased their price objective on shares of Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Wedbush restated an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Finally, Sanford C. Bernstein increased their price objective on shares of Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Get Our Latest Research Report on PANW

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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