Arrow Financial Corp Buys 5,258 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Arrow Financial Corp increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 84.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,499 shares of the network technology company's stock after acquiring an additional 5,258 shares during the quarter. Arrow Financial Corp's holdings in Palo Alto Networks were worth $2,092,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after purchasing an additional 31,281,359 shares during the period. Geode Capital Management LLC lifted its holdings 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 worth $2,611,013,000 after acquiring an additional 6,725,148 shares during the period. Norges Bank acquired a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $970,736,000. Northern Trust Corp increased its stake in Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after acquiring an additional 4,486,654 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Palo Alto Networks by 83.8% during the fourth 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 purchasing an additional 3,841,359 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Price Performance

Shares of PANW traded up $1.43 during trading hours on Friday, hitting $187.70. The stock had a trading volume of 3,841,186 shares, compared to its average volume of 5,789,745. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The firm has a market capitalization of $124.28 billion, a P/E ratio of 105.75, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. The firm has a 50 day simple moving average of $175.97 and a 200-day simple moving average of $184.70.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.24 billion. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PANW. Loop Capital decreased their price target on Palo Alto Networks from $385.00 to $180.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. Truist Financial decreased their target price on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Susquehanna raised their price target on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research note on Tuesday, February 18th. Stephens initiated coverage on shares of Palo Alto Networks in a report on Tuesday, April 1st. They set an "equal weight" rating and a $205.00 price target on the stock. Finally, Scotiabank increased their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a "sector outperform" rating in a research note on Tuesday, January 21st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $203.06.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This trade represents a 2.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares of the company's stock, valued at approximately $198,214,409.80. This represents a 31.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,039,318 shares of company stock worth $181,925,602 in the last quarter. Insiders own 2.50% of the company's stock.

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.