Bank of Hawaii Has $412,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bank of Hawaii raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 100.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,264 shares of the network technology company’s stock after buying an additional 1,132 shares during the quarter. Bank of Hawaii’s holdings in Palo Alto Networks were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock worth $11,142,122,000 after purchasing an additional 31,281,359 shares during the period. Geode Capital Management LLC raised its holdings in Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock worth $2,611,013,000 after buying an additional 6,725,148 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Palo Alto Networks by 83.0% in the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock valued at $1,048,033,000 after buying an additional 2,612,474 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Palo Alto Networks by 59.3% during the fourth quarter. Legal & General Group Plc now owns 5,552,888 shares of the network technology company’s stock valued at $1,010,403,000 after buying an additional 2,067,838 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Palo Alto Networks during the fourth quarter worth about $970,736,000. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PANW. Loop Capital cut their price target on Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Rosenblatt Securities reiterated a “buy” rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Monday, March 31st. KeyCorp raised their price objective on Palo Alto Networks from $217.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price for the company in a report on Thursday. Finally, Citigroup boosted their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.52.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at $198,214,409.80. This trade represents a 31.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at $48,629,704.62. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 939,318 shares of company stock valued at $165,384,602 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $168.27 on Friday. The company has a market capitalization of $111.41 billion, a PE ratio of 94.80, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Palo Alto Networks, Inc. has a 52-week low of $135.18 and a 52-week high of $208.39. The business’s fifty day moving average is $182.59 and its 200 day moving average is $184.81.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.24 billion. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS 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.