CNB Bank Has $1.01 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

CNB Bank cut its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,947 shares of the network technology company’s stock after selling 143 shares during the period. CNB Bank’s holdings in Palo Alto Networks were worth $1,007,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PANW. Fisher Asset Management LLC raised its position in Palo Alto Networks by 7.2% in the 4th quarter. Fisher Asset Management LLC now owns 1,806 shares of the network technology company’s stock valued at $533,000 after purchasing an additional 121 shares during the last quarter. Alaska Permanent Fund Corp raised its holdings in shares of Palo Alto Networks by 403.5% in the first quarter. Alaska Permanent Fund Corp now owns 720 shares of the network technology company’s stock valued at $205,000 after buying an additional 577 shares during the last quarter. Central Bank & Trust Co. raised its holdings in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares during the last quarter. Radnor Capital Management LLC lifted its position in Palo Alto Networks by 31.7% during the 1st quarter. Radnor Capital Management LLC now owns 1,455 shares of the network technology company’s stock worth $413,000 after buying an additional 350 shares in the last quarter. Finally, Game Plan Financial Advisors LLC grew its holdings in Palo Alto Networks by 1.3% during the 1st quarter. Game Plan Financial Advisors LLC now owns 4,846 shares of the network technology company’s stock worth $1,377,000 after acquiring an additional 64 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $374.83 on Friday. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $380.84. The stock’s 50 day moving average price is $348.67 and its two-hundred day moving average price is $323.01. The stock has a market capitalization of $121.37 billion, a price-to-earnings ratio of 54.48, a PEG ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PANW. The Goldman Sachs Group upped their target price on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Scotiabank upped their price objective on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. BNP Paribas assumed coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 target price for the company. KeyCorp upped their price target on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup lifted their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $375.79.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the sale, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock worth $118,643,279 in the last three months. Insiders own 3.30% of the company’s stock.

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.