Palo Alto Networks, Inc. (NYSE:PANW) Shares Acquired by Security National Bank

Security National Bank lifted its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,639 shares of the network technology company’s stock after buying an additional 928 shares during the period. Palo Alto Networks makes up approximately 1.9% of Security National Bank’s investment portfolio, making the stock its 20th biggest holding. Security National Bank’s holdings in Palo Alto Networks were worth $7,491,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PANW. Tradition Wealth Management LLC raised its holdings in shares of Palo Alto Networks by 78.9% during the second quarter. Tradition Wealth Management LLC now owns 68 shares of the network technology company’s stock worth $25,000 after purchasing an additional 30 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Palo Alto Networks by 233.3% during the second quarter. Parkside Financial Bank & Trust now owns 70 shares of the network technology company’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Palo Alto Networks by 288.9% during the second quarter. Jacobi Capital Management LLC now owns 70 shares of the network technology company’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. Godsey & Gibb Associates purchased a new position in shares of Palo Alto Networks during the second quarter worth $28,000. Finally, Clean Yield Group purchased a new position in Palo Alto Networks in the second quarter valued at $29,000. Institutional investors and hedge funds own 82.62% of the company’s stock.

PANW has been the subject of a number of recent analyst reports. Cowen lifted their price objective on shares of Palo Alto Networks from $550.00 to $620.00 and gave the company an “outperform” rating in a report on Friday, November 19th. Zacks Investment Research cut shares of Palo Alto Networks from a “hold” rating to a “sell” rating and set a $560.00 target price for the company. in a research note on Wednesday. JMP Securities boosted their target price on shares of Palo Alto Networks from $550.00 to $585.00 and gave the stock an “outperform” rating in a research note on Friday, November 19th. Robert W. Baird boosted their target price on shares of Palo Alto Networks from $540.00 to $625.00 and gave the stock an “outperform” rating in a research note on Friday, November 19th. Finally, Truist boosted their price target on shares of Palo Alto Networks from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Friday, November 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty-eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $576.00.

PANW traded up $16.70 during trading hours on Thursday, hitting $549.72. 1,248,557 shares of the company’s stock were exchanged, compared to its average volume of 1,171,238. Palo Alto Networks, Inc. has a 12-month low of $289.77 and a 12-month high of $559.54. The firm has a 50 day moving average of $500.38 and a 200 day moving average of $427.89. The firm has a market cap of $53.88 billion, a P/E ratio of -106.12 and a beta of 1.35. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.63.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, November 18th. The network technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.07. Palo Alto Networks had a negative net margin of 11.72% and a negative return on equity of 17.08%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm earned ($0.04) EPS. The firm’s revenue for the quarter was up 31.9% on a year-over-year basis. As a group, research analysts expect that Palo Alto Networks, Inc. will post -0.47 EPS for the current fiscal year.

In other news, Director Mark D. Mclaughlin sold 9,500 shares of the company’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $526.31, for a total value of $4,999,945.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Key sold 1,000 shares of the company’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $457.87, for a total transaction of $457,870.00. Following the completion of the transaction, the director now owns 4,521 shares of the company’s stock, valued at approximately $2,070,030.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,870 shares of company stock worth $28,176,363. Insiders own 2.20% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. 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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