Bokf Na Sells 1,334 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Bokf Na reduced its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,095 shares of the network technology company’s stock after selling 1,334 shares during the quarter. Bokf Na’s holdings in Palo Alto Networks were worth $10,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PANW. Kestra Advisory Services LLC lifted its holdings in Palo Alto Networks by 39.4% in the first quarter. Kestra Advisory Services LLC now owns 54,870 shares of the network technology company’s stock valued at $15,590,000 after acquiring an additional 15,519 shares during the period. Beck Capital Management LLC lifted its holdings in Palo Alto Networks by 25.6% in the first quarter. Beck Capital Management LLC now owns 16,142 shares of the network technology company’s stock valued at $4,586,000 after acquiring an additional 3,289 shares during the period. Steel Grove Capital Advisors LLC lifted its holdings in Palo Alto Networks by 37.2% in the first quarter. Steel Grove Capital Advisors LLC now owns 977 shares of the network technology company’s stock valued at $278,000 after acquiring an additional 265 shares during the period. LRI Investments LLC bought a new position in Palo Alto Networks in the first quarter valued at about $1,044,000. Finally, Truvestments Capital LLC lifted its holdings in Palo Alto Networks by 260.4% in the first quarter. Truvestments Capital LLC now owns 2,094 shares of the network technology company’s stock valued at $595,000 after acquiring an additional 1,513 shares during the period. 79.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PANW shares. Redburn Atlantic cut Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Morgan Stanley restated an “overweight” rating and issued a $360.00 price target on shares of Palo Alto Networks in a research report on Wednesday, June 12th. Daiwa Capital Markets started coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price target for the company. Sanford C. Bernstein upped their price target on Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Macquarie upped their price target on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $325.59.

Insider Buying and Selling

In related news, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the sale, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the sale, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,292,166.92. The disclosure for this sale can be found here. In the last three months, insiders sold 428,391 shares of company stock valued at $136,147,317. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $6.68 during trading on Friday, hitting $326.81. The company had a trading volume of 1,709,425 shares, compared to its average volume of 2,294,796. The stock has a market cap of $105.82 billion, a price-to-earnings ratio of 47.50, a price-to-earnings-growth ratio of 5.00 and a beta of 1.14. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The company has a fifty day simple moving average of $321.57 and a two-hundred day simple moving average of $312.34.

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

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.