Bank of Jackson Hole Trust Buys Shares of 3,898 Palo Alto Networks, Inc. (NASDAQ:PANW)

Bank of Jackson Hole Trust bought a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,898 shares of the network technology company’s stock, valued at approximately $709,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Tradewinds LLC. boosted its position in shares of Palo Alto Networks by 1.2% during the third quarter. Tradewinds LLC. now owns 2,315 shares of the network technology company’s stock worth $791,000 after buying an additional 28 shares during the period. Cromwell Holdings LLC boosted its position in shares of Palo Alto Networks by 3.0% during the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after buying an additional 30 shares during the period. Rosenberg Matthew Hamilton boosted its position in shares of Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after buying an additional 30 shares during the period. Geneva Partners LLC boosted its position in shares of Palo Alto Networks by 0.3% during the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after buying an additional 30 shares during the period. Finally, Klingman & Associates LLC boosted its position in shares of Palo Alto Networks by 4.2% during the third quarter. Klingman & Associates LLC now owns 750 shares of the network technology company’s stock worth $256,000 after buying an additional 30 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Nir Zuk sold 336,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $193.70, for a total value of $65,081,520.00. Following the completion of the transaction, the executive vice president now directly owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 490,723 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total value of $89,532,411.35. Following the completion of the transaction, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,458,864 shares of company stock valued at $269,397,331. 2.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PANW shares. Hsbc Global Res cut Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 22nd. TD Cowen upped their target price on Palo Alto Networks from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Scotiabank upped their target price on Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. StockNews.com lowered Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Finally, UBS Group upped their target price on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.70.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $208.28 on Wednesday. The business’s 50 day simple moving average is $186.84 and its 200 day simple moving average is $182.29. The company has a market capitalization of $136.67 billion, a P/E ratio of 117.34, a P/E/G ratio of 5.70 and a beta of 1.14. Palo Alto Networks, Inc. has a 1 year low of $130.04 and a 1 year high of $208.35.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.75 EPS 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.