Commerzbank Aktiengesellschaft FI Buys 7,944 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Commerzbank Aktiengesellschaft FI boosted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 368,715 shares of the network technology company's stock after buying an additional 7,944 shares during the period. Palo Alto Networks accounts for approximately 1.5% of Commerzbank Aktiengesellschaft FI's portfolio, making the stock its 25th largest position. Commerzbank Aktiengesellschaft FI owned 0.06% of Palo Alto Networks worth $62,918,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kingsview Wealth Management LLC lifted its holdings in shares of Palo Alto Networks by 3.7% during the first quarter. Kingsview Wealth Management LLC now owns 21,124 shares of the network technology company's stock valued at $3,605,000 after purchasing an additional 755 shares during the last quarter. Concord Wealth Partners lifted its holdings in shares of Palo Alto Networks by 1.5% during the first quarter. Concord Wealth Partners now owns 5,467 shares of the network technology company's stock valued at $933,000 after purchasing an additional 80 shares during the last quarter. Hudock Inc. lifted its holdings in shares of Palo Alto Networks by 7.6% during the first quarter. Hudock Inc. now owns 2,763 shares of the network technology company's stock valued at $472,000 after purchasing an additional 195 shares during the last quarter. Napatree Capital LLC lifted its holdings in shares of Palo Alto Networks by 17.2% during the first quarter. Napatree Capital LLC now owns 2,190 shares of the network technology company's stock valued at $374,000 after purchasing an additional 322 shares during the last quarter. Finally, Allen Capital Group LLC lifted its holdings in shares of Palo Alto Networks by 8.9% during the first quarter. Allen Capital Group LLC now owns 3,401 shares of the network technology company's stock valued at $580,000 after purchasing an additional 278 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PANW has been the subject of several recent research reports. KeyCorp reiterated an "overweight" rating and set a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Truist Financial decreased their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. TD Securities restated a "buy" rating and issued a $230.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Guggenheim restated a "sell" rating and issued a $130.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average target price of $208.00.

Insider Activity

In other news, CAO Josh D. Paul sold 600 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total transaction of $122,400.00. Following the sale, the chief accounting officer directly owned 41,433 shares in the company, valued at approximately $8,452,332. This represents a 1.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aparna Bawa sold 526 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the sale, the director owned 8,632 shares in the company, valued at $1,640,080. This represents a 5.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 569,248 shares of company stock worth $111,279,829. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Up 1.9%

PANW stock traded up $3.69 during mid-day trading on Thursday, hitting $196.28. The company had a trading volume of 4,297,753 shares, compared to its average volume of 5,411,936. The company has a market capitalization of $130.88 billion, a price-to-earnings ratio of 112.16, a P/E/G ratio of 5.38 and a beta of 0.97. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The company has a 50-day moving average price of $195.25 and a 200 day moving average price of $185.85.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 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 analysts' expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. As a group, analysts expect 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.