Amalgamated Bank Has $24.92 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Amalgamated Bank increased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 102.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,937 shares of the network technology company’s stock after buying an additional 69,231 shares during the quarter. Amalgamated Bank’s holdings in Palo Alto Networks were worth $24,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PANW. Jennison Associates LLC increased its position in Palo Alto Networks by 83.0% in the 4th quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company’s stock worth $1,048,033,000 after purchasing an additional 2,612,474 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Palo Alto Networks by 199.1% in the fourth quarter. Nordea Investment Management AB now owns 1,822,336 shares of the network technology company’s stock valued at $333,925,000 after purchasing an additional 1,213,073 shares during the period. Swedbank AB lifted its stake in shares of Palo Alto Networks by 107.8% in the fourth quarter. Swedbank AB now owns 1,634,701 shares of the network technology company’s stock worth $297,450,000 after buying an additional 848,127 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Palo Alto Networks by 104.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,562,722 shares of the network technology company’s stock worth $284,353,000 after buying an additional 796,964 shares during the period. Finally, Fifth Third Bancorp grew its stake in Palo Alto Networks by 100.6% in the 4th quarter. Fifth Third Bancorp now owns 1,374,653 shares of the network technology company’s stock valued at $250,132,000 after buying an additional 689,458 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.3 %

Palo Alto Networks stock opened at $190.39 on Tuesday. The firm’s 50 day simple moving average is $186.85 and its 200 day simple moving average is $183.92. Palo Alto Networks, Inc. has a 1-year low of $132.50 and a 1-year high of $208.39. The firm has a market capitalization of $126.06 billion, a PE ratio of 107.26, a price-to-earnings-growth ratio of 5.64 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of research analyst reports. Guggenheim lowered shares of Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Monday, January 6th. Morgan Stanley boosted their price target on shares of Palo Alto Networks from $223.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of Palo Alto Networks from $193.50 to $224.50 and gave the stock an “overweight” rating in a report on Monday, November 18th. StockNews.com downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Finally, Wells Fargo & Company raised their price target on Palo Alto Networks from $208.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $204.69.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $179.70, for a total value of $21,564,000.00. Following the completion of the sale, the executive vice president now owns 365,856 shares in the company, valued at approximately $65,744,323.20. The trade was a 24.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 235,492 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $183.32, for a total transaction of $43,170,393.44. Following the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $199,159,581.28. The trade was a 17.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,122,864 shares of company stock worth $204,315,811. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks 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.