Central Bank & Trust Co. Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Central Bank & Trust Co. boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 43.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,166 shares of the network technology company's stock after purchasing an additional 2,160 shares during the period. Central Bank & Trust Co.'s holdings in Palo Alto Networks were worth $1,223,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock valued at $1,230,000 after acquiring an additional 4,031 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in Palo Alto Networks by 80.1% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 2,926 shares of the network technology company's stock worth $532,000 after purchasing an additional 1,301 shares in the last quarter. Consolidated Portfolio Review Corp lifted its position in shares of Palo Alto Networks by 100.7% in the 4th quarter. Consolidated Portfolio Review Corp now owns 1,730 shares of the network technology company's stock worth $315,000 after purchasing an additional 868 shares during the period. Leo Wealth LLC boosted its stake in shares of Palo Alto Networks by 106.7% during the 4th quarter. Leo Wealth LLC now owns 5,292 shares of the network technology company's stock valued at $963,000 after purchasing an additional 2,732 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Palo Alto Networks during the fourth quarter valued at about $4,772,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded down $3.27 during midday trading on Monday, hitting $196.33. 2,563,808 shares of the stock traded hands, compared to its average volume of 5,513,814. The firm has a 50-day moving average of $180.48 and a two-hundred day moving average of $184.92. The firm has a market capitalization of $130.91 billion, a P/E ratio of 110.61, a PEG ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 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 for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the business earned $0.66 EPS. The firm's revenue was up 15.3% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup upped their target price on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Barclays dropped their price target on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Westpark Capital reiterated a "hold" rating and issued a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Roth Capital assumed coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 target price on the stock. Finally, Morgan Stanley reduced their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks 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 completion of the transaction, the executive vice president now directly owns 264,246 shares of the company's stock, valued at $51,564,964.44. The trade was a 31.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nikesh Arora sold 227,414 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the sale, the chief executive officer now directly owns 317,571 shares of the company's stock, valued at $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 789,736 shares of company stock valued at $139,837,528. Corporate insiders own 2.50% of the company's stock.

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.