Park National Corp OH Increases Position in Palo Alto Networks, Inc. $PANW

Park National Corp OH raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 185,664 shares of the network technology company’s stock after purchasing an additional 12,603 shares during the period. Palo Alto Networks comprises approximately 1.2% of Park National Corp OH’s holdings, making the stock its 26th largest holding. Park National Corp OH’s holdings in Palo Alto Networks were worth $37,805,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new position in Palo Alto Networks during the 2nd quarter worth $25,000. Whipplewood Advisors LLC lifted its position in shares of Palo Alto Networks by 6,400.0% during the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in Palo Alto Networks in the second quarter valued at about $28,000. Howard Hughes Medical Institute acquired a new stake in Palo Alto Networks during the second quarter valued at approximately $29,000. Finally, MTM Investment Management LLC acquired a new stake in Palo Alto Networks during the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PANW shares. Northland Securities lifted their price objective on shares of Palo Alto Networks from $177.00 to $190.00 and gave the stock a “market perform” rating in a report on Thursday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $230.00 price target on shares of Palo Alto Networks in a report on Thursday, November 20th. Wedbush reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a research report on Thursday, November 20th. Hsbc Global Res cut shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Thursday, November 20th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $240.00 price target (up from $236.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Thirty analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.09.

Palo Alto Networks Trading Down 3.0%

Shares of NASDAQ:PANW opened at $185.88 on Tuesday. The company has a 50 day moving average of $204.14 and a 200-day moving average of $197.58. The firm has a market cap of $129.56 billion, a P/E ratio of 117.65, a P/E/G ratio of 4.54 and a beta of 0.79. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the business earned $1.56 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $191.91, for a total value of $23,177,738.34. Following the transaction, the executive vice president owned 327,645 shares of the company’s stock, valued at approximately $62,878,351.95. This represents a 26.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $204.19, for a total value of $1,020,950.00. Following the sale, the executive vice president owned 96,135 shares of the company’s stock, valued at $19,629,805.65. This trade represents a 4.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,228,330 shares of company stock worth $251,702,305. Company insiders own 1.40% of the company’s stock.

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.