Commerce Bank Has $8.26 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Commerce Bank boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,384 shares of the network technology company's stock after acquiring an additional 1,625 shares during the quarter. Commerce Bank's holdings in Palo Alto Networks were worth $8,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Moors & Cabot Inc. raised its position in Palo Alto Networks by 4.8% during the first quarter. Moors & Cabot Inc. now owns 16,538 shares of the network technology company's stock valued at $2,822,000 after acquiring an additional 750 shares in the last quarter. Certified Advisory Corp raised its position in Palo Alto Networks by 0.9% during the first quarter. Certified Advisory Corp now owns 16,160 shares of the network technology company's stock valued at $2,758,000 after acquiring an additional 140 shares in the last quarter. Howland Capital Management LLC raised its position in Palo Alto Networks by 24.7% during the first quarter. Howland Capital Management LLC now owns 3,058 shares of the network technology company's stock valued at $522,000 after acquiring an additional 606 shares in the last quarter. US Bancorp DE raised its position in Palo Alto Networks by 7.6% during the first quarter. US Bancorp DE now owns 1,429,519 shares of the network technology company's stock valued at $243,933,000 after acquiring an additional 100,765 shares in the last quarter. Finally, MGO One Seven LLC raised its position in Palo Alto Networks by 1.9% during the first quarter. MGO One Seven LLC now owns 50,513 shares of the network technology company's stock valued at $8,619,000 after acquiring an additional 944 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PANW. Guggenheim reaffirmed a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. JPMorgan Chase & Co. cut their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. TD Securities reissued a "buy" rating and issued a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Finally, Wells Fargo & Company lifted their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $209.61.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 800 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $201.05, for a total transaction of $160,840.00. Following the transaction, the chief accounting officer owned 42,033 shares in the company, valued at $8,450,734.65. This represents a 1.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the transaction, the executive vice president owned 101,135 shares in the company, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock worth $111,279,829 over the last quarter. Corporate insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $172.88 on Friday. The company's fifty day moving average price is $196.04 and its two-hundred day moving average price is $187.29. The firm has a market capitalization of $115.28 billion, a PE ratio of 98.79, a price-to-earnings-growth ratio of 4.83 and a beta of 0.95. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 EPS. Analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal 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.

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