FineMark National Bank & Trust Sells 387 Shares of Palo Alto Networks, Inc. $PANW

FineMark National Bank & Trust trimmed its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,854 shares of the network technology company’s stock after selling 387 shares during the period. FineMark National Bank & Trust’s holdings in Palo Alto Networks were worth $13,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PANW. Whipplewood Advisors LLC lifted its position in shares of Palo Alto Networks by 6,400.0% in the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after buying an additional 128 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in Palo Alto Networks during the 2nd quarter valued at approximately $28,000. MTM Investment Management LLC bought a new stake in Palo Alto Networks in the 2nd quarter worth approximately $31,000. Dagco Inc. purchased a new stake in shares of Palo Alto Networks during the 1st quarter worth approximately $33,000. Finally, Marshall & Sullivan Inc. WA purchased a new stake in shares of Palo Alto Networks during the 2nd quarter worth approximately $41,000. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PANW. Oppenheimer boosted their price target on shares of Palo Alto Networks from $225.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. BTIG Research restated a “buy” rating and issued a $248.00 target price on shares of Palo Alto Networks in a report on Monday. Royal Bank Of Canada upped their target price on shares of Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, November 12th. Mizuho lifted their price target on Palo Alto Networks from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Robert W. Baird upped their price objective on Palo Alto Networks from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 14th. Twenty-nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $224.14.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $201.00 on Wednesday. The firm has a market capitalization of $137.48 billion, a P/E ratio of 125.23, a price-to-earnings-growth ratio of 4.82 and a beta of 0.95. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The company’s 50-day moving average is $209.25 and its 200 day moving average is $197.42.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 18th. The network technology company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. Palo Alto Networks had a return on equity of 17.66% and a net margin of 12.30%.The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 15.8% on a year-over-year basis. Research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $204.19, for a total value of $1,020,950.00. Following the transaction, the executive vice president owned 96,135 shares of the company’s stock, valued at $19,629,805.65. This represents a 4.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Nikesh Arora sold 846,408 shares of Palo Alto Networks stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $204.06, for a total value of $172,718,016.48. Following the sale, the chief executive officer owned 275,013 shares of the company’s stock, valued at approximately $56,119,152.78. This trade represents a 75.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,215,830 shares of company stock worth $249,160,428 in the last 90 days. 1.40% of the stock is owned by insiders.

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.