Parkside Financial Bank & Trust Grows Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Parkside Financial Bank & Trust boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 70.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 884 shares of the network technology company’s stock after buying an additional 365 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Palo Alto Networks were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. SlateStone Wealth LLC increased its position in Palo Alto Networks by 3.2% in the fourth quarter. SlateStone Wealth LLC now owns 1,750 shares of the network technology company’s stock worth $516,000 after buying an additional 55 shares during the last quarter. PDS Planning Inc bought a new position in shares of Palo Alto Networks in the fourth quarter worth $240,000. Aspire Private Capital LLC bought a new position in shares of Palo Alto Networks in the fourth quarter worth $494,000. Sage Mountain Advisors LLC boosted its holdings in shares of Palo Alto Networks by 37.2% in the fourth quarter. Sage Mountain Advisors LLC now owns 1,284 shares of the network technology company’s stock worth $379,000 after acquiring an additional 348 shares during the period. Finally, Stock Yards Bank & Trust Co. boosted its holdings in shares of Palo Alto Networks by 1.7% in the fourth quarter. Stock Yards Bank & Trust Co. now owns 56,866 shares of the network technology company’s stock worth $16,769,000 after acquiring an additional 936 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of analyst reports. Mizuho cut their price target on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a report on Monday, January 29th. Barclays cut their price target on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Royal Bank of Canada lifted their price objective on Palo Alto Networks to $420.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Finally, Piper Sandler lowered Palo Alto Networks from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $350.00 to $300.00 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. According to data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 1,050 shares of the business’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 value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Josh D. Paul sold 1,050 shares of the business’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 value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at $46,659,063. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock valued at $49,395,553 in the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Trading Down 0.5 %

Palo Alto Networks stock traded down $1.40 during trading hours on Wednesday, hitting $292.09. 1,256,802 shares of the stock traded hands, compared to its average volume of 5,476,581. The firm’s 50-day moving average price is $292.16 and its two-hundred day moving average price is $291.84. The company has a market cap of $94.37 billion, a PE ratio of 46.01, a PEG ratio of 3.84 and a beta of 1.19. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

About Palo Alto Networks

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.