Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Thomasville National Bank

Thomasville National Bank cut its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,908 shares of the network technology company's stock after selling 6,731 shares during the period. Palo Alto Networks comprises about 3.1% of Thomasville National Bank's investment portfolio, making the stock its 7th largest position. Thomasville National Bank's holdings in Palo Alto Networks were worth $42,644,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Transce3nd LLC acquired a new position in Palo Alto Networks in the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL raised its stake in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Kiely Wealth Advisory Group Inc. boosted its holdings in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 79 shares during the last quarter. Finally, Anchor Investment Management LLC increased 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 valued at $28,000 after purchasing an additional 78 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.7%

Shares of PANW stock traded down $1.40 during trading hours on Friday, hitting $196.27. 3,815,861 shares of the company were exchanged, compared to its average volume of 5,482,749. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The business has a 50 day moving average of $183.28 and a two-hundred day moving average of $185.12. The company has a market capitalization of $130.87 billion, a PE ratio of 110.58, a PEG ratio of 5.64 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the business posted $0.66 EPS. On average, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PANW. JPMorgan Chase & Co. decreased their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Susquehanna increased their price objective 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. Citigroup raised their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a "buy" rating in a research report on Tuesday, February 25th. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Finally, Morgan Stanley decreased their price objective on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Two equities 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. According to MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

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