Community Bank N.A. Buys 3,520 Shares of Palo Alto Networks, Inc. $PANW

by · The Markets Daily

Community Bank N.A. increased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 43.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,537 shares of the network technology company’s stock after purchasing an additional 3,520 shares during the quarter. Community Bank N.A.’s holdings in Palo Alto Networks were worth $2,349,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PANW. Darwin Wealth Management LLC bought a new stake in shares of Palo Alto Networks during the second quarter worth $25,000. Howard Hughes Medical Institute bought a new position in shares of Palo Alto Networks in the 2nd quarter valued at $29,000. Winch Advisory Services LLC boosted its holdings in shares of Palo Alto Networks by 96.1% during the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 73 shares in the last quarter. MTM Investment Management LLC acquired a new stake in shares of Palo Alto Networks during the 2nd quarter valued at $31,000. Finally, Caitlin John LLC bought a new stake in Palo Alto Networks during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 800 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $184.81, for a total value of $147,848.00. Following the transaction, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at $8,502,184.05. The trade was a 1.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 120,768 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $191.03, for a total value of $23,070,311.04. Following the sale, the executive vice president owned 298,887 shares in the company, valued at approximately $57,096,383.61. The trade was a 28.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 149,252 shares of company stock valued at $27,888,535. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $167.01 on Friday. The firm’s fifty day moving average is $169.84 and its 200-day moving average is $189.50. Palo Alto Networks, Inc. has a 52 week low of $139.57 and a 52 week high of $223.61. The firm has a market cap of $136.28 billion, a P/E ratio of 92.27, a P/E/G ratio of 6.03 and a beta of 0.78.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the company posted $0.81 earnings per share. Palo Alto Networks’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

PANW has been the subject of a number of recent research reports. Sanford C. Bernstein set a $209.00 target price on Palo Alto Networks and gave the stock an “outperform” rating in a report on Wednesday, February 18th. DA Davidson set a $190.00 price target on Palo Alto Networks and gave the stock a “buy” rating in a report on Wednesday, February 18th. Stephens upped their price objective on Palo Alto Networks from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, November 20th. Arete Research upgraded shares of Palo Alto Networks from a “sell” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Tuesday, March 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.19.

Get Our Latest Research Report on PANW

Palo Alto Networks Profile

(Free Report)

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

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