Park National Corp OH Has $29.49 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Park National Corp OH decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 172,799 shares of the network technology company's stock after selling 5,407 shares during the quarter. Park National Corp OH's holdings in Palo Alto Networks were worth $29,486,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC lifted its stake in Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after buying an additional 6,725,148 shares in the last quarter. Norges Bank purchased a new stake in Palo Alto Networks during the fourth quarter valued at about $970,736,000. Northern Trust Corp lifted its stake in Palo Alto Networks by 133.7% during the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after buying an additional 4,486,654 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in Palo Alto Networks by 83.8% during the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock valued at $1,533,419,000 after buying an additional 3,841,359 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PANW. Stephens downgraded shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Barclays reduced their target price on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Guggenheim reissued a "sell" rating and issued a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Northland Securities reduced their price objective on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research note on Wednesday, May 21st. Finally, Westpark Capital reiterated a "hold" rating and issued a $196.40 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 12th. 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 company. According to MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Palo Alto Networks Trading Up 2.7%

PANW stock traded up $4.96 during trading on Friday, hitting $190.78. The company had a trading volume of 11,416,203 shares, compared to its average volume of 5,595,989. The company has a fifty day moving average price of $178.31 and a two-hundred day moving average price of $185.07. The company has a market cap of $127.21 billion, a P/E ratio of 107.48, a P/E/G ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

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

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $189.27, for a total value of $22,858,894.98. Following the transaction, the executive vice president now directly owns 293,010 shares of the company's stock, valued at $55,458,002.70. The trade was a 29.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 317,571 shares in the company, valued at approximately $54,854,038.83. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 568,962 shares of company stock worth $96,933,690 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

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.