Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Acquired by Huntington National Bank

Huntington National Bank lifted its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,310 shares of the network technology company’s stock after acquiring an additional 24,559 shares during the period. Huntington National Bank owned about 0.07% of Palo Alto Networks worth $76,327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ROI Financial Advisors LLC grew its stake in 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 buying an additional 89 shares during the last quarter. Plato Investment Management Ltd grew its stake in 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 last quarter. Schrum Private Wealth Management LLC grew its stake in 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 last quarter. ICICI Prudential Asset Management Co Ltd grew its stake in Palo Alto Networks by 18.8% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 4,227 shares of the network technology company’s stock worth $1,445,000 after buying an additional 670 shares during the last quarter. Finally, Saturna Capital Corp grew its stake in Palo Alto Networks by 3.8% during the 3rd quarter. Saturna Capital Corp now owns 3,459 shares of the network technology company’s stock worth $1,182,000 after buying an additional 126 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction that occurred on 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 sale, the director now owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the transaction, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at approximately $219,505,142.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The trade was 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 90 days. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

PANW has been the subject of a number of recent research reports. Evercore ISI upped their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Robert W. Baird increased their price target on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. BMO Capital Markets increased their price target on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Wedbush reissued an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $378.87.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $402.36 on Thursday. The firm has a market cap of $131.01 billion, a price-to-earnings ratio of 55.50, a P/E/G ratio of 5.77 and a beta of 1.12. The business’s 50-day simple moving average is $356.70 and its 200-day simple moving average is $334.54. Palo Alto Networks, Inc. has a 52 week low of $234.15 and a 52 week high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating 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 return on equity of 26.83% and a net margin of 32.11%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 EPS. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Palo Alto Networks 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.