UMB Bank n.a. Sells 5,054 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

UMB Bank n.a. cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 97,621 shares of the network technology company's stock after selling 5,054 shares during the quarter. UMB Bank n.a.'s holdings in Palo Alto Networks were worth $16,658,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PANW. Transce3nd LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL increased its position in Palo Alto Networks by 64.0% during the fourth 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 last quarter. Atlantic Edge Private Wealth Management LLC increased its position in Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after buying an additional 106 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 79 shares during the period. Finally, Anchor Investment Management LLC boosted its stake in shares of 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 acquiring an additional 78 shares during the period. Institutional investors own 79.82% of the company's stock.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the completion of the sale, the executive vice president now owns 264,246 shares of the company's stock, valued at approximately $51,564,964.44. This represents a 31.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 789,736 shares of company stock worth $139,837,528 in the last ninety days. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Down 1.6%

Shares of NASDAQ:PANW traded down $3.27 during trading on Monday, hitting $196.33. 2,563,808 shares of the company were exchanged, compared to its average volume of 5,513,813. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The company has a market capitalization of $130.91 billion, a P/E ratio of 110.61, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. The business's 50 day moving average is $180.48 and its 200-day moving average is $184.92.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays dropped their price target on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research report on Monday, May 19th. Susquehanna lifted their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a report on Tuesday, February 18th. Guggenheim reiterated a "sell" rating and issued a $130.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, UBS Group boosted their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

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.