Huntington National Bank Has $76.33 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Huntington National Bank boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,310 shares of the network technology company’s stock after purchasing an additional 24,559 shares during the period. Huntington National Bank’s holdings in Palo Alto Networks were worth $76,327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its stake in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC boosted its position in shares of Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its position in shares of Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares during the last quarter. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks during the first quarter worth about $25,000. Finally, First PREMIER Bank lifted its holdings in Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after acquiring an additional 31 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,252 shares of company stock valued at $89,383,077. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Up 1.1 %

Shares of PANW opened at $402.36 on Thursday. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $408.53. The business has a 50-day simple moving average of $356.70 and a two-hundred day simple moving average of $334.54. The stock has a market cap of $131.01 billion, a PE ratio of 55.50, a PEG ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on PANW shares. Rosenblatt Securities boosted their price target on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Robert W. Baird lifted their target price on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. BTIG Research lifted their target price on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Piper Sandler boosted their price target on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their price target on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $378.87.

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.