NBT Bank N A NY Buys 4,278 Shares of Palo Alto Networks, Inc. $PANW

NBT Bank N A NY raised its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 14.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 33,943 shares of the network technology company’s stock after buying an additional 4,278 shares during the quarter. NBT Bank N A NY’s holdings in Palo Alto Networks were worth $6,911,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PANW. Darwin Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the second quarter valued at approximately $25,000. Whipplewood Advisors LLC boosted its position in Palo Alto Networks by 6,400.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after buying an additional 128 shares during the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at $28,000. Howard Hughes Medical Institute bought a new stake in shares of Palo Alto Networks during the second quarter worth $29,000. Finally, MTM Investment Management LLC acquired a new position in shares of Palo Alto Networks during the second quarter valued at $31,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the completion of the transaction, the executive vice president directly owned 155,119 shares of the company’s stock, valued at approximately $29,190,293.42. The trade was a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 800 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $184.81, for a total value of $147,848.00. Following the completion of the sale, the chief accounting officer owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This trade represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 382,016 shares of company stock valued at $76,386,460. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PANW. JMP Securities lifted their price objective on Palo Alto Networks from $212.00 to $250.00 and gave the stock a “market outperform” rating in a research report on Monday, October 27th. Morgan Stanley reiterated an “overweight” rating and set a $245.00 price target (up previously from $228.00) on shares of Palo Alto Networks in a research report on Thursday, December 18th. Piper Sandler reissued an “overweight” rating and set a $265.00 price target (up from $230.00) on shares of Palo Alto Networks in a research note on Monday, January 5th. Hsbc Global Res lowered shares of Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Thursday, November 20th. Finally, Mizuho set a $220.00 target price on shares of Palo Alto Networks in a report on Tuesday, December 16th. Thirty-one equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.09.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $187.66 on Friday. The stock has a market cap of $130.80 billion, a P/E ratio of 118.77, a P/E/G ratio of 4.47 and a beta of 0.76. The firm has a 50 day moving average price of $191.35 and a 200 day moving average price of $195.68. Palo Alto Networks, Inc. has a 52-week low of $144.15 and a 52-week high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the business posted $1.56 earnings per share. Analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Palo Alto Networks Company Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next?generation firewalls as a core on?premises capability, alongside cloud?delivered security services and software for securing public and private clouds.