Security National Bank Has $11.22 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Security National Bank boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,493 shares of the network technology company’s stock after purchasing an additional 65 shares during the quarter. Palo Alto Networks comprises 1.7% of Security National Bank’s holdings, making the stock its 11th largest holding. Security National Bank’s holdings in Palo Alto Networks were worth $11,221,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks in the 4th quarter valued at about $27,000. Webster Bank N. A. lifted its stake in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Financial Synergies Wealth Advisors Inc. boosted its holdings in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after acquiring an additional 47 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in shares of Palo Alto Networks during the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $330.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 21st. KeyCorp raised their target price on Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Evercore ISI cut their price target on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a report on Tuesday, May 14th. Argus raised their price objective on shares of Palo Alto Networks from $336.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, Citigroup boosted their target price on shares of Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday, May 22nd. Twelve analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $324.17.

Palo Alto Networks Trading Up 0.7 %

PANW traded up $2.29 during midday trading on Wednesday, hitting $324.97. 1,282,925 shares of the company were exchanged, compared to its average volume of 4,837,619. The company’s 50 day simple moving average is $303.68 and its 200 day simple moving average is $306.50. The firm has a market capitalization of $105.23 billion, a price-to-earnings ratio of 47.13, a price-to-earnings-growth ratio of 4.94 and a beta of 1.10. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Insider Activity

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the transaction, the president now owns 20,501 shares of the company’s stock, valued at $6,292,166.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the firm’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 owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total value of $497,517.32. Following the sale, the president now directly owns 20,501 shares in the company, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 258,182 shares of company stock valued at $74,850,597. 3.30% of the stock is currently owned by company insiders.

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.