American National Bank Sells 115 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

American National Bank reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 49.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 116 shares of the network technology company’s stock after selling 115 shares during the period. American National Bank’s holdings in Palo Alto Networks were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Norges Bank bought a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $1,563,020,000. International Assets Investment Management LLC increased its holdings in shares of Palo Alto Networks by 29,086.9% in the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after purchasing an additional 2,050,917 shares during the last quarter. Jennison Associates LLC raised its position in shares of Palo Alto Networks by 83.1% in the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after purchasing an additional 1,187,915 shares during the period. Vanguard Group Inc. lifted its stake in shares of Palo Alto Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after buying an additional 1,058,127 shares during the last quarter. Finally, Axiom Investors LLC DE boosted its holdings in shares of Palo Alto Networks by 359.3% during the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after buying an additional 749,199 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Transactions at Palo Alto Networks

In related news, Director John P. Key sold 2,163 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the sale, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director John P. Key sold 2,163 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the transaction, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 800 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $300.21, for a total transaction of $240,168.00. Following the completion of the sale, the executive vice president now owns 166,542 shares in the company, valued at $49,997,573.82. The disclosure for this sale can be found here. Insiders sold 258,182 shares of company stock valued at $74,850,597 over the last three months. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW traded up $9.29 during mid-day trading on Friday, hitting $320.33. The stock had a trading volume of 7,196,740 shares, compared to its average volume of 4,900,265. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week high of $380.84. The business has a fifty day moving average price of $301.01 and a 200-day moving average price of $305.71. The firm has a market cap of $103.72 billion, a P/E ratio of 46.46, a PEG ratio of 4.86 and a beta of 1.10.

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

Analysts Set New Price Targets

PANW has been the subject of a number of research analyst reports. Oppenheimer restated an “outperform” rating and set a $330.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Evercore ISI decreased their price objective on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a report on Tuesday, May 14th. KeyCorp boosted their target price on shares of Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Sanford C. Bernstein raised their price target on shares of Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Twelve investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.17.

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.