Palo Alto Networks Inc (NYSE:PANW) Shares Sold by Keybank National Association OH

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Keybank National Association OH trimmed its position in Palo Alto Networks Inc (NYSE:PANW) by 8.8% in the third quarter, Holdings Channel reports. The firm owned 26,839 shares of the network technology company’s stock after selling 2,603 shares during the quarter. Keybank National Association OH’s holdings in Palo Alto Networks were worth $5,471,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Appleton Partners Inc. MA raised its holdings in shares of Palo Alto Networks by 1.0% during the third quarter. Appleton Partners Inc. MA now owns 21,306 shares of the network technology company’s stock valued at $4,343,000 after buying an additional 215 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Palo Alto Networks by 29.7% during the third quarter. Kornitzer Capital Management Inc. KS now owns 176,787 shares of the network technology company’s stock valued at $36,034,000 after buying an additional 40,488 shares during the last quarter. Huntington National Bank raised its holdings in shares of Palo Alto Networks by 106.1% during the third quarter. Huntington National Bank now owns 270 shares of the network technology company’s stock valued at $55,000 after buying an additional 139 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Palo Alto Networks by 6.9% during the third quarter. Parallel Advisors LLC now owns 2,730 shares of the network technology company’s stock valued at $556,000 after buying an additional 176 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Palo Alto Networks by 11.0% during the third quarter. Cullen Frost Bankers Inc. now owns 658 shares of the network technology company’s stock valued at $134,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 78.77% of the company’s stock.

NYSE:PANW traded up $3.07 during midday trading on Friday, hitting $236.93. 728,062 shares of the stock were exchanged, compared to its average volume of 1,284,199. Palo Alto Networks Inc has a one year low of $160.08 and a one year high of $260.63. The company has a market capitalization of $22.68 billion, a price-to-earnings ratio of 376.08 and a beta of 0.99. The business has a 50-day moving average price of $215.88 and a two-hundred day moving average price of $215.76. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.90.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Wednesday, September 4th. The network technology company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.08). The firm had revenue of $805.80 million for the quarter, compared to the consensus estimate of $803.56 million. Palo Alto Networks had a positive return on equity of 4.82% and a negative net margin of 2.82%. Palo Alto Networks’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 EPS. Sell-side analysts forecast that Palo Alto Networks Inc will post -0.05 EPS for the current fiscal year.

PANW has been the topic of a number of recent analyst reports. Morgan Stanley set a $290.00 price target on Palo Alto Networks and gave the company a “buy” rating in a report on Tuesday, September 3rd. Robert W. Baird set a $275.00 price target on Palo Alto Networks and gave the company a “buy” rating in a report on Sunday, September 15th. Rosenblatt Securities initiated coverage on Palo Alto Networks in a report on Monday, September 9th. They set a “hold” rating and a $220.00 price target on the stock. SunTrust Banks initiated coverage on Palo Alto Networks in a report on Wednesday, October 2nd. They set a “buy” rating and a $246.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Palo Alto Networks from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $261.03.

In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $207.78, for a total value of $8,311,200.00. Following the transaction, the director now owns 240,236 shares in the company, valued at $49,916,236.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Nir Zuk sold 12,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $232.10, for a total transaction of $2,785,200.00. Following the completion of the transaction, the executive vice president now owns 900,546 shares in the company, valued at approximately $209,016,726.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,610 shares of company stock worth $16,437,971. 2.30% of the stock is currently owned by company insiders.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

Read More: Capital Gains Distribution

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks Inc (NYSE:PANW).

Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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