Umpqua Bank Raises Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Umpqua Bank increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 89.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,409 shares of the network technology company’s stock after purchasing an additional 6,320 shares during the quarter. Umpqua Bank’s holdings in Palo Alto Networks were worth $2,287,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. SJS Investment Consulting Inc. lifted its stake in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Valued Wealth Advisors LLC lifted its stake in shares of Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 101 shares during the last quarter. Abound Wealth Management lifted its stake in shares of Palo Alto Networks by 97.3% in the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares during the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after acquiring an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its stake in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after acquiring an additional 79 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Down 0.9 %

Shares of Palo Alto Networks stock opened at $182.32 on Friday. The firm has a market cap of $120.71 billion, a P/E ratio of 102.72, a P/E/G ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39. The business has a 50-day moving average price of $186.59 and a 200 day moving average price of $185.00.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity

In other Palo Alto Networks news, CEO Nikesh Arora sold 235,492 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $183.32, for a total value of $43,170,393.44. Following the completion of the transaction, the chief executive officer now directly owns 1,086,404 shares in the company, valued at $199,159,581.28. This trade represents a 17.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 700 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PANW. Morgan Stanley began coverage on Palo Alto Networks in a research note on Tuesday. They set an “overweight” rating on the stock. Jefferies Financial Group increased their target price on Palo Alto Networks from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a report on Monday, February 10th. Guggenheim downgraded Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price target on the stock. in a report on Monday, January 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $223.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.06.

Palo Alto Networks 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.