BOK Financial Private Wealth Inc. Acquires 10,713 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

BOK Financial Private Wealth Inc. grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 84.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,388 shares of the network technology company’s stock after acquiring an additional 10,713 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in Palo Alto Networks were worth $4,256,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new position in shares of Palo Alto Networks during the third quarter worth about $29,000. True Wealth Design LLC grew its holdings in shares of Palo Alto Networks by 2,933.3% during the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company’s stock worth $31,000 after buying an additional 88 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Palo Alto Networks during the third quarter worth about $32,000. Darwin Wealth Management LLC bought a new position in shares of Palo Alto Networks during the third quarter worth about $39,000. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after buying an additional 69 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BTIG Research downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Scotiabank increased their price objective on Palo Alto Networks from $200.00 to $225.00 and gave the stock a “sector outperform” rating in a report on Tuesday, January 21st. Stifel Nicolaus increased their price target on Palo Alto Networks from $192.50 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Westpark Capital reissued a “hold” rating and set a $196.40 price target on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Finally, Citigroup increased their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Stock Up 0.9 %

Shares of PANW opened at $180.93 on Friday. The company has a market cap of $119.79 billion, a price-to-earnings ratio of 101.93, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. Palo Alto Networks, Inc. has a twelve month low of $132.50 and a twelve month high of $208.39. The company has a 50 day moving average of $186.05 and a two-hundred day moving average of $184.78.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.24 billion. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 176,242 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $180.04, for a total transaction of $31,730,609.68. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares of the company’s stock, valued at $195,596,176.16. The trade was a 13.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 120,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the sale, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This represents a 24.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,122,864 shares of company stock valued at $204,315,811. Corporate insiders own 2.50% of the company’s stock.

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.