Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Lifted by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. lifted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,866 shares of the network technology company’s stock after acquiring an additional 936 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Palo Alto Networks were worth $16,769,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in PANW. Vanguard Group Inc. boosted its holdings in shares of Palo Alto Networks by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock worth $6,215,410,000 after purchasing an additional 304,272 shares during the period. Northern Trust Corp boosted its holdings in shares of Palo Alto Networks by 2.6% during the third quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock worth $804,199,000 after purchasing an additional 86,995 shares during the period. Jennison Associates LLC boosted its holdings in shares of Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after purchasing an additional 1,187,915 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Palo Alto Networks by 29,086.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after purchasing an additional 2,050,917 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Palo Alto Networks by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,662,820 shares of the network technology company’s stock worth $389,832,000 after purchasing an additional 36,859 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Up 0.9 %

NASDAQ:PANW traded up $2.40 during mid-day trading on Monday, reaching $280.11. 1,722,817 shares of the company were exchanged, compared to its average volume of 5,534,537. The stock has a market cap of $90.50 billion, a PE ratio of 43.11, a PEG ratio of 3.79 and a beta of 1.19. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84. The company has a fifty day moving average of $295.46 and a 200 day moving average of $291.20.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PANW shares. Wedbush lifted their target price on shares of Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Sanford C. Bernstein started coverage on shares of Palo Alto Networks in a research note on Thursday, January 18th. They issued an “outperform” rating for the company. Loop Capital cut shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price for the company. in a research note on Wednesday, February 21st. Oppenheimer lifted their target price on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, Mizuho reduced their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Insider Activity

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the sale, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is currently owned by insiders.

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.