Keybank National Association OH Has $5.33 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Keybank National Association OH increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 141.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 29,268 shares of the network technology company’s stock after acquiring an additional 17,130 shares during the period. Keybank National Association OH’s holdings in Palo Alto Networks were worth $5,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tradewinds LLC. increased its holdings in shares of Palo Alto Networks by 1.2% during the 3rd quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after acquiring an additional 28 shares during the last quarter. Klingman & Associates LLC grew its holdings in Palo Alto Networks by 4.2% in the 3rd quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock valued at $256,000 after buying an additional 30 shares in the last quarter. Carr Financial Group Corp grew its holdings in Palo Alto Networks by 4.4% in the 3rd quarter. Carr Financial Group Corp now owns 715 shares of the network technology company’s stock valued at $244,000 after buying an additional 30 shares in the last quarter. First Dallas Securities Inc. grew its holdings in Palo Alto Networks by 1.4% in the 3rd quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock valued at $728,000 after buying an additional 30 shares in the last quarter. Finally, Opinicus Capital Inc. grew its holdings in Palo Alto Networks by 1.5% in the 3rd quarter. Opinicus Capital Inc. now owns 2,138 shares of the network technology company’s stock valued at $731,000 after buying an additional 31 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.1 %

Shares of PANW stock opened at $184.28 on Thursday. The stock has a market cap of $122.01 billion, a price-to-earnings ratio of 103.82, a PEG ratio of 5.64 and a beta of 1.14. The stock has a 50-day moving average of $186.34 and a 200-day moving average of $184.74. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 490,723 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the sale, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PANW. HSBC lowered Palo Alto Networks from a “hold” rating to a “reduce” rating and decreased their price objective for the company from $152.00 to $145.50 in a report on Friday, November 22nd. KeyCorp upped their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Barclays reduced their target price on Palo Alto Networks from $425.00 to $213.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Stifel Nicolaus increased their target price on Palo Alto Networks from $192.50 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, UBS Group increased their target price on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $205.06.

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.