Community Bank N.A. Has $1.14 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Community Bank N.A. lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 28.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,701 shares of the network technology company's stock after purchasing an additional 1,475 shares during the period. Community Bank N.A.'s holdings in Palo Alto Networks were worth $1,143,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Aspiriant LLC lifted its holdings in Palo Alto Networks by 11.3% in the first quarter. Aspiriant LLC now owns 2,293 shares of the network technology company's stock valued at $391,000 after buying an additional 233 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Palo Alto Networks by 3.9% during the 1st quarter. State of Alaska Department of Revenue now owns 77,530 shares of the network technology company's stock worth $13,229,000 after purchasing an additional 2,910 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of Palo Alto Networks by 63.8% in the 1st quarter. CWA Asset Management Group LLC now owns 10,995 shares of the network technology company's stock valued at $1,876,000 after buying an additional 4,281 shares during the period. Kingswood Wealth Advisors LLC grew its stake in shares of Palo Alto Networks by 17.9% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 5,150 shares of the network technology company's stock valued at $880,000 after buying an additional 782 shares during the period. Finally, Essex Savings Bank increased its position in Palo Alto Networks by 3.3% in the 1st quarter. Essex Savings Bank now owns 9,120 shares of the network technology company's stock valued at $1,556,000 after buying an additional 292 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Activity

In other news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares of the company's stock, valued at $48,629,704.62. This represents a 27.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $193.36, for a total value of $19,336,000.00. Following the sale, the executive vice president now directly owns 3,343,516 shares of the company's stock, valued at approximately $646,502,253.76. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 789,736 shares of company stock worth $139,837,528. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Up 2.0%

NASDAQ PANW opened at $202.05 on Wednesday. The company has a market cap of $134.73 billion, a PE ratio of 115.46, a price-to-earnings-growth ratio of 5.53 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The firm's 50-day simple moving average is $185.65 and its two-hundred day simple moving average is $185.16.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a report on Thursday, April 10th. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the company an "outperform" rating in a report on Wednesday, May 21st. Finally, Barclays decreased their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company 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-seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Company 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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