Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by AMG National Trust Bank

AMG National Trust Bank lifted its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,220 shares of the network technology company’s stock after acquiring an additional 34 shares during the period. AMG National Trust Bank’s holdings in Palo Alto Networks were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new position in shares of Palo Alto Networks during the 3rd quarter valued at $1,156,000. Alpha Cubed Investments LLC boosted its stake in Palo Alto Networks by 16.4% during the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after buying an additional 32,626 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Palo Alto Networks by 3.8% during the third quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after acquiring an additional 7,291 shares during the period. Harvest Portfolios Group Inc. bought a new stake in Palo Alto Networks in the third quarter worth about $24,414,000. Finally, Parsons Capital Management Inc. RI lifted its holdings in Palo Alto Networks by 4.5% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock valued at $914,000 after acquiring an additional 116 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Up 0.3 %

Shares of Palo Alto Networks stock opened at $388.06 on Wednesday. The firm has a fifty day simple moving average of $361.53 and a 200-day simple moving average of $338.02. The stock has a market capitalization of $126.35 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a 1-year low of $249.56 and a 1-year high of $408.53.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PANW shares. BTIG Research lifted their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. TD Cowen increased their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein lifted their target price on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their price target on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, DA Davidson boosted their price objective on Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $391.92.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the transaction, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The trade was a 24.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction 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. The trade was a 27.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,252 shares of company stock valued at $89,041,637. 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.