First Hawaiian Bank Invests $1.88 Million in Palo Alto Networks, Inc. (NASDAQ:PANW)

First Hawaiian Bank acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) during the second quarter, according to its most recent filing with the SEC. The firm acquired 5,554 shares of the network technology company’s stock, valued at approximately $1,883,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PANW. Vanguard Group Inc. raised its stake in shares of Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after purchasing an additional 1,002,239 shares in the last quarter. Norges Bank acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth $1,563,020,000. Clearbridge Investments LLC grew its stake in Palo Alto Networks by 1.0% in the fourth quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock valued at $924,905,000 after purchasing an additional 30,013 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Palo Alto Networks by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,971 shares of the network technology company’s stock worth $515,147,000 after purchasing an additional 84,151 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on PANW. DA Davidson assumed coverage on shares of Palo Alto Networks in a report on Friday, June 21st. They set a “buy” rating and a $380.00 price objective for the company. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. Daiwa Capital Markets started coverage on shares of Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price objective for the company. Argus boosted their price objective on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a research note on Friday, June 21st. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $325.59.

Palo Alto Networks Trading Down 3.7 %

PANW traded down $11.42 during trading on Monday, reaching $294.18. The stock had a trading volume of 4,475,943 shares, compared to its average volume of 4,442,619. The stock’s 50 day moving average is $321.74 and its two-hundred day moving average is $311.96. The company has a market capitalization of $95.26 billion, a price-to-earnings ratio of 43.48, a P/E/G ratio of 4.16 and a beta of 1.14. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the transaction, the director now owns 3,767 shares of the company’s stock, valued at $1,167,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares in the company, valued at $1,167,770. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. Insiders have sold 307,315 shares of company stock worth $100,940,790 in the last 90 days. 3.30% of the stock is currently owned by insiders.

About Palo Alto Networks

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.