Bokf Na Cuts Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bokf Na reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 36,095 shares of the network technology company’s stock after selling 1,334 shares during the period. Bokf Na’s holdings in Palo Alto Networks were worth $10,086,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $1,563,020,000. International Assets Investment Management LLC grew its position in shares of Palo Alto Networks by 29,086.9% in the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after purchasing an additional 2,050,917 shares in the last quarter. Jennison Associates LLC grew its position in shares of Palo Alto Networks by 83.1% in the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after purchasing an additional 1,187,915 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Palo Alto Networks by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock valued at $8,129,800,000 after purchasing an additional 1,058,127 shares in the last quarter. Finally, Axiom Investors LLC DE grew its position in shares of Palo Alto Networks by 359.3% in the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after purchasing an additional 749,199 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Aparna Bawa sold 322 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were 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 owns 3,767 shares in the company, valued at $1,167,770. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 428,391 shares of company stock valued at $136,147,317. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $360.00 price objective on shares of Palo Alto Networks in a report on Wednesday, June 12th. Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a report on Friday, June 21st. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Finally, BMO Capital Markets upped their price objective on Palo Alto Networks from $327.00 to $334.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $325.59.

Palo Alto Networks Stock Performance

Shares of PANW stock traded up $6.68 during mid-day trading on Friday, hitting $326.81. 1,709,425 shares of the stock were exchanged, compared to its average volume of 2,294,796. The stock’s fifty day simple moving average is $321.57 and its two-hundred day simple moving average is $312.34. The stock has a market capitalization of $105.82 billion, a price-to-earnings ratio of 47.50, a P/E/G ratio of 5.00 and a beta of 1.14. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion for 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 business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. On average, research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

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.