Community Bank N.A. Has $951,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Community Bank N.A. boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 103.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,226 shares of the network technology company’s stock after purchasing an additional 2,653 shares during the quarter. Community Bank N.A.’s holdings in Palo Alto Networks were worth $951,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PANW. First Dallas Securities Inc. raised its stake in shares of Palo Alto Networks by 1.4% during the third quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock valued at $728,000 after acquiring an additional 30 shares in the last quarter. RB Capital Management LLC increased its holdings in Palo Alto Networks by 1.5% during the third quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company’s stock valued at $852,000 after buying an additional 36 shares during the period. Principal Street Partners LLC increased its holdings in Palo Alto Networks by 1.7% during the third quarter. Principal Street Partners LLC now owns 2,321 shares of the network technology company’s stock valued at $792,000 after buying an additional 38 shares during the period. Sunbelt Securities Inc. increased its holdings in Palo Alto Networks by 2.2% during the third quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company’s stock valued at $676,000 after buying an additional 42 shares during the period. Finally, Zega Financial LLC increased its holdings in Palo Alto Networks by 0.8% during the third quarter. Zega Financial LLC now owns 5,997 shares of the network technology company’s stock valued at $2,050,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PANW. Loop Capital cut their price objective on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Citigroup lifted 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. Evercore ISI cut their price target on shares of Palo Alto Networks from $455.00 to $230.00 and set an “outperform” rating on the stock in a report on Tuesday, December 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.06.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $182.32 on Friday. The company has a market cap of $120.71 billion, a PE ratio of 102.72, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a 12 month low of $132.50 and a 12 month high of $208.39. The company has a 50-day simple moving average of $186.59 and a 200-day simple moving average of $185.05.

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

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of Palo Alto Networks stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the transaction, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $198,214,409.80. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at approximately $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,122,864 shares of company stock worth $204,315,811. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Company 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.