Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Decreased by UMB Bank n.a.

UMB Bank n.a. lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 97,621 shares of the network technology company’s stock after selling 5,054 shares during the period. UMB Bank n.a.’s holdings in Palo Alto Networks were worth $16,658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after buying an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after buying an additional 6,725,148 shares during the last quarter. Capital Research Global Investors grew its position in shares of Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after buying an additional 3,841,359 shares during the last quarter. Northern Trust Corp grew its position in shares of Palo Alto Networks by 133.7% during the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock valued at $1,427,048,000 after buying an additional 4,486,654 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Palo Alto Networks by 17.6% during the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company’s stock valued at $1,324,387,000 after buying an additional 1,088,631 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PANW shares. Royal Bank of Canada restated an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a research report on Monday, February 10th. Roth Capital started coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They issued a “neutral” rating and a $210.00 target price for the company. Truist Financial decreased their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, March 31st. TD Securities restated a “buy” rating and issued a $230.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.00.

Insider Activity

In other news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the transaction, the executive vice president now owns 264,246 shares in the company, valued at approximately $51,564,964.44. This trade represents a 31.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the transaction, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. This trade represents a 41.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 789,736 shares of company stock worth $139,837,528. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 1.3%

PANW stock opened at $199.60 on Friday. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The company has a market cap of $133.09 billion, a price-to-earnings ratio of 112.45, a PEG ratio of 5.64 and a beta of 0.97. The company has a 50 day moving average of $180.48 and a two-hundred day moving average of $185.02.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS 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.