Umpqua Bank Has $2.29 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Umpqua Bank grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 89.2% during the fourth quarter, Holdings Channel reports. The firm owned 13,409 shares of the network technology company’s stock after purchasing an additional 6,320 shares during the period. Umpqua Bank’s holdings in Palo Alto Networks were worth $2,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PANW. First Dallas Securities Inc. raised its holdings in Palo Alto Networks by 1.4% in the 3rd quarter. First Dallas Securities Inc. now owns 2,130 shares of the network technology company’s stock worth $728,000 after acquiring an additional 30 shares during the period. RB Capital Management LLC raised its holdings in Palo Alto Networks by 1.5% in the 3rd quarter. RB Capital Management LLC now owns 2,492 shares of the network technology company’s stock worth $852,000 after acquiring an additional 36 shares during the period. Principal Street Partners LLC raised its holdings in Palo Alto Networks by 1.7% in the 3rd quarter. Principal Street Partners LLC now owns 2,321 shares of the network technology company’s stock worth $792,000 after acquiring an additional 38 shares during the period. Sunbelt Securities Inc. raised its holdings in Palo Alto Networks by 2.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,977 shares of the network technology company’s stock worth $676,000 after acquiring an additional 42 shares during the period. Finally, Zega Financial LLC raised its holdings in Palo Alto Networks by 0.8% in the 3rd quarter. Zega Financial LLC now owns 5,997 shares of the network technology company’s stock worth $2,050,000 after acquiring an additional 48 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PANW. Loop Capital dropped their target price 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. KeyCorp lifted their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Citigroup boosted their price objective 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. BTIG Research lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 8th. Finally, Rosenblatt Securities lifted their target price on shares of Palo Alto Networks from $212.50 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.06.

Palo Alto Networks Price Performance

Shares of PANW opened at $182.32 on Friday. The firm has a market capitalization of $120.71 billion, a PE ratio of 102.72, a PEG ratio of 5.64 and a beta of 1.04. The company’s 50-day moving average is $186.59 and its 200-day moving average is $185.00. Palo Alto Networks, Inc. has a fifty-two week low of $132.50 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.24 billion. Analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 490,723 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. This trade represents a 31.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 120,000 shares of Palo Alto Networks stock in a transaction on Monday, January 6th. The shares were sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now 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. Insiders have sold a total of 1,122,864 shares of company stock worth $204,315,811 in the last ninety days. Company 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.