Bank of Stockton Has $621,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bank of Stockton boosted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,638 shares of the network technology company’s stock after purchasing an additional 78 shares during the period. Bank of Stockton’s holdings in Palo Alto Networks were worth $621,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its position in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Anchor Investment Management LLC lifted its stake in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. lifted its stake in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 75 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth about $29,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Performance

Shares of PANW opened at $204.30 on Thursday. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The stock has a market capitalization of $136.23 billion, a price-to-earnings ratio of 116.74, a PEG ratio of 5.63 and a beta of 0.97. The stock has a fifty day moving average of $189.35 and a 200-day moving average of $185.33.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the company earned $0.66 earnings per share. The business’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at $48,629,704.62. This trade represents a 27.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the transaction, the executive vice president now directly owns 101,135 shares in the company, valued at approximately $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 795,536 shares of company stock worth $141,007,618 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Hsbc Global Res raised Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 10th. Stephens lowered Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $223.00 price target on shares of Palo Alto Networks in a report on Monday, May 19th. Truist Financial decreased their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Jefferies Financial Group increased their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $208.00.

About Palo Alto Networks

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.