Amalgamated Bank Has $24.13 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Amalgamated Bank increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,430 shares of the network technology company's stock after purchasing an additional 4,493 shares during the period. Amalgamated Bank's holdings in Palo Alto Networks were worth $24,134,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PANW. Transce3nd LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL lifted its position in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares during the period. Anchor Investment Management LLC boosted its stake in Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. grew its position in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after acquiring an additional 75 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in Palo Alto Networks during the fourth quarter worth $29,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 3.4%

Shares of NASDAQ PANW traded down $7.06 during midday trading on Tuesday, reaching $197.58. 6,838,432 shares of the stock were exchanged, compared to its average volume of 5,399,958. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The stock has a 50 day moving average price of $191.59 and a 200-day moving average price of $185.28. The company has a market capitalization of $131.75 billion, a P/E ratio of 112.90, a P/E/G ratio of 5.71 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released 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 firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on 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 sold 795,536 shares of company stock worth $141,007,618 over the last quarter. Insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

PANW has been the topic of several analyst reports. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Monday, May 19th. Wells Fargo & Company boosted their target price on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Barclays decreased 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. Finally, TD Securities reiterated a "buy" rating and issued a $230.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two 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 stock. According to MarketBeat, the stock presently 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.