Field & Main Bank Acquires 95 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Field & Main Bank lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,703 shares of the network technology company’s stock after purchasing an additional 95 shares during the period. Palo Alto Networks makes up about 1.1% of Field & Main Bank’s investment portfolio, making the stock its 25th biggest position. Field & Main Bank’s holdings in Palo Alto Networks were worth $2,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. First Pacific Financial grew its stake in shares of Palo Alto Networks by 421.7% during the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Webster Bank N. A. lifted its holdings in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Cedar Mountain Advisors LLC boosted its position in Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the period. Byrne Asset Management LLC raised its position in shares of Palo Alto Networks by 277.8% in the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Finally, MV Capital Management Inc. lifted its stake in shares of Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after buying an additional 29 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PANW shares. Loop Capital downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target for the company. in a report on Wednesday, February 21st. Scotiabank cut their price objective on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 21st. The Goldman Sachs Group lifted their price objective on shares of Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Wedbush increased their price target on Palo Alto Networks from $350.00 to $425.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the sale, the executive vice president now owns 198,105 shares of the company’s stock, valued at approximately $56,327,194.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $56,327,194.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,917 shares of company stock valued at $33,959,203. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

PANW traded up $1.99 during trading on Monday, hitting $293.41. The company had a trading volume of 2,980,002 shares, compared to its average volume of 5,393,582. The company has a market cap of $94.80 billion, a PE ratio of 45.85, a P/E/G ratio of 3.96 and a beta of 1.19. Palo Alto Networks, Inc. has a 1-year low of $176.30 and a 1-year high of $380.84. The business has a 50-day moving average of $286.15 and a 200-day moving average of $292.81.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. Research analysts forecast that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

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.