M&T Bank Corp Sells 10,788 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

M&T Bank Corp reduced its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,102 shares of the network technology company's stock after selling 10,788 shares during the quarter. M&T Bank Corp's holdings in Palo Alto Networks were worth $21,005,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Transce3nd LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL lifted its holdings in 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 purchasing an additional 55 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. lifted its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after purchasing an additional 75 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth approximately $29,000. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, 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 value of $1,009,250.00. Following the sale, the executive vice president owned 101,135 shares in the company, valued at approximately $20,414,099.75. The trade was a 4.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $99,940.00. Following the completion of the sale, the director owned 8,632 shares in the company, valued at $1,640,080. This trade represents a 5.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock worth $111,279,829 over the last three months. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PANW. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price objective on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Wells Fargo & Company lifted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Stephens cut Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Price Performance

PANW stock traded down $4.68 during midday trading on Friday, reaching $187.39. 7,403,780 shares of the stock were exchanged, compared to its average volume of 5,412,170. The stock has a market capitalization of $124.95 billion, a PE ratio of 107.08, a P/E/G ratio of 5.36 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 company has a fifty day moving average price of $195.04 and a 200 day moving average price of $185.78.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The business 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 quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, analysts anticipate 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.