Zions Bancorporation N.A. Has $5.58 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Zions Bancorporation N.A. grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,316 shares of the network technology company’s stock after purchasing an additional 1,387 shares during the period. Zions Bancorporation N.A.’s holdings in Palo Alto Networks were worth $5,577,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Huntington National Bank increased its holdings in shares of Palo Alto Networks by 12.4% during the 3rd quarter. Huntington National Bank now owns 223,310 shares of the network technology company’s stock valued at $76,327,000 after acquiring an additional 24,559 shares during the last quarter. ROI Financial Advisors LLC grew its holdings in shares of Palo Alto Networks by 0.7% during the 3rd quarter. ROI Financial Advisors LLC now owns 13,597 shares of the network technology company’s stock worth $4,647,000 after purchasing an additional 89 shares in the last quarter. Plato Investment Management Ltd lifted its position in shares of Palo Alto Networks by 1.4% during the 3rd quarter. Plato Investment Management Ltd now owns 4,813 shares of the network technology company’s stock worth $1,643,000 after buying an additional 65 shares during the period. Schrum Private Wealth Management LLC lifted its position in shares of Palo Alto Networks by 12.1% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 4,798 shares of the network technology company’s stock worth $1,640,000 after buying an additional 516 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd raised its position in Palo Alto Networks by 18.8% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 4,227 shares of the network technology company’s stock valued at $1,445,000 after purchasing an additional 670 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Susquehanna upped their target price on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Stifel Nicolaus upped their price objective on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. JMP Securities restated a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a research note on Monday, November 4th. Finally, Cantor Fitzgerald raised Palo Alto Networks to a “strong-buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $378.87.

Palo Alto Networks Trading Up 1.1 %

Shares of Palo Alto Networks stock opened at $402.36 on Thursday. The business has a 50-day moving average price of $357.82 and a two-hundred day moving average price of $335.01. Palo Alto Networks, Inc. has a 1-year low of $234.15 and a 1-year high of $408.53. The company has a market cap of $131.01 billion, a P/E ratio of 55.50, a PEG ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $0.80 EPS. Equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Activity

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. 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 accessible through the SEC website. In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now owns 41,517 shares of the company’s stock, valued at $14,175,564.48. 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 255,252 shares of company stock worth $89,383,077 in the last three months. Company insiders own 2.50% of the company’s stock.

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.