US Bancorp DE Has $243.93 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• US Bancorp DE increased its stake in Palo Alto Networks by 7.6%, owning approximately 1.43 million shares valued at around $243.9 million as of the latest quarter.
• Various large investors, including Csenge Advisory Group and Strategic Investment Solutions Inc., have also recently adjusted their holdings in Palo Alto Networks, indicating significant interest from institutional investors.
• Palo Alto Networks experienced a trading downturn, with shares opening at $173.60, reflecting a 12-month high of $210.39 and a low of $142.01.

US Bancorp DE raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,429,519 shares of the network technology company's stock after buying an additional 100,765 shares during the quarter. US Bancorp DE owned about 0.22% of Palo Alto Networks worth $243,933,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Uniting Wealth Partners LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter worth approximately $548,000. Rehmann Capital Advisory Group lifted its position in shares of Palo Alto Networks by 106.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock worth $433,000 after purchasing an additional 1,226 shares during the period. GAMMA Investing LLC lifted its position in shares of Palo Alto Networks by 10.8% in the 1st quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock worth $2,410,000 after purchasing an additional 1,374 shares during the period. Diligent Investors LLC lifted its position in shares of Palo Alto Networks by 100.0% in the 4th quarter. Diligent Investors LLC now owns 3,430 shares of the network technology company's stock worth $624,000 after purchasing an additional 1,715 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Palo Alto Networks by 8.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 137,663 shares of the network technology company's stock worth $23,491,000 after purchasing an additional 10,180 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

NASDAQ:PANW traded down $0.72 during trading hours on Friday, reaching $172.88. 16,231,498 shares of the company traded hands, compared to its average volume of 7,730,412. The firm's 50-day moving average is $196.04 and its 200-day moving average is $187.20. The stock has a market cap of $115.28 billion, a P/E ratio of 98.79, a P/E/G ratio of 4.85 and a beta of 0.95. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business's revenue was up 15.3% on a year-over-year basis. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research note on Thursday. DA Davidson lowered their price objective on shares of Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating for the company in a research note on Thursday. KeyCorp lowered shares of Palo Alto Networks from an "overweight" rating to a "sector weight" rating in a research note on Thursday. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley decreased their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $209.61.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the firm'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 transaction, the executive vice president directly owned 101,135 shares of the company's stock, valued at $20,414,099.75. This trade represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the sale, the executive vice president directly owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 569,248 shares of company stock valued at $111,279,829 over the last ninety days. Insiders own 2.50% of the company's stock.

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.