Bank of Stockton Purchases 295 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Bank of Stockton grew its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 20.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,770 shares of the network technology company’s stock after buying an additional 295 shares during the period. Bank of Stockton’s holdings in Palo Alto Networks were worth $605,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PANW. Kathmere Capital Management LLC increased its position in shares of Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares in the last quarter. FLC Capital Advisors increased its position in Palo Alto Networks by 0.7% during the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares in the last quarter. Cascade Investment Group Inc. raised its stake in Palo Alto Networks by 2.9% in the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after buying an additional 31 shares during the last quarter. Herbst Group LLC grew its stake in shares of Palo Alto Networks by 0.3% during the third quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock worth $3,313,000 after acquiring an additional 31 shares during the last quarter. Finally, First PREMIER Bank increased its holdings in shares of Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $6.64 during mid-day trading on Friday, reaching $371.22. The company’s stock had a trading volume of 403,183 shares, compared to its average volume of 3,979,045. The stock has a 50-day moving average of $350.84 and a two-hundred day moving average of $325.17. The stock has a market capitalization of $120.87 billion, a P/E ratio of 51.30, a P/E/G ratio of 5.45 and a beta of 1.13. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $0.80 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. Analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. Northland Securities lifted their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 20th. Sanford C. Bernstein lifted their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. DA Davidson upped their target price on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. BNP Paribas initiated coverage on Palo Alto Networks in a research report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price target for the company. Finally, Bank of America boosted their price target on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $376.82.

Insider Activity

In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the transaction, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is currently owned by insiders.

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.