Security National Bank boosted its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 6.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 14,129 shares of the network technology company’s stock after buying an additional 890 shares during the period. Security National Bank’s holdings in Palo Alto Networks were worth $4,550,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. United Bank raised its holdings in shares of Palo Alto Networks by 53.2% in the third quarter. United Bank now owns 2,201 shares of the network technology company’s stock valued at $539,000 after purchasing an additional 764 shares during the last quarter. Wealth Alliance acquired a new stake in shares of Palo Alto Networks in the third quarter valued at approximately $337,000. Truist Financial Corp raised its holdings in shares of Palo Alto Networks by 100.2% in the third quarter. Truist Financial Corp now owns 20,351 shares of the network technology company’s stock valued at $4,980,000 after purchasing an additional 10,185 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Palo Alto Networks in the third quarter valued at approximately $736,000. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in shares of Palo Alto Networks in the third quarter valued at approximately $2,448,000. Hedge funds and other institutional investors own 80.76% of the company’s stock.

In related news, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $361.90, for a total transaction of $4,342,800.00. Following the completion of the sale, the executive vice president now owns 882,856 shares of the company’s stock, valued at $319,505,586.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 3,500 shares of the company’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $366.91, for a total transaction of $1,284,185.00. Following the sale, the executive vice president now directly owns 307,047 shares of the company’s stock, valued at approximately $112,658,614.77. The disclosure for this sale can be found here. In the last three months, insiders sold 89,917 shares of company stock valued at $32,113,001. 2.30% of the stock is currently owned by company insiders.

Shares of Palo Alto Networks stock traded up $7.91 during trading on Thursday, reaching $346.48. The company’s stock had a trading volume of 14,239 shares, compared to its average volume of 1,190,399. The business’s 50-day moving average price is $344.07 and its 200-day moving average price is $315.26. The firm has a market cap of $33.69 billion, a PE ratio of -109.22 and a beta of 1.50. Palo Alto Networks, Inc. has a 52 week low of $172.36 and a 52 week high of $403.00. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 4.18.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Sunday, February 21st. The network technology company reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $985.90 million. Palo Alto Networks had a negative net margin of 8.36% and a negative return on equity of 8.66%. Palo Alto Networks’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.19 earnings per share. Equities analysts predict that Palo Alto Networks, Inc. will post -1.69 earnings per share for the current year.

A number of analysts have recently issued reports on PANW shares. Oppenheimer lifted their price objective on shares of Palo Alto Networks from $305.00 to $420.00 and gave the company an “outperform” rating in a report on Monday, March 1st. BTIG Research boosted their target price on shares of Palo Alto Networks from $419.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, February 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Palo Alto Networks from $423.00 to $426.00 and gave the stock a “buy” rating in a report on Monday, March 1st. Piper Sandler boosted their target price on shares of Palo Alto Networks from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Monday, March 1st. Finally, Northland Securities restated a “buy” rating on shares of Palo Alto Networks in a report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $377.06.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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