Commerzbank Aktiengesellschaft FI Decreases Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Commerzbank Aktiengesellschaft FI cut its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 245,505 shares of the network technology company’s stock after selling 1,515 shares during the quarter. Palo Alto Networks makes up 2.8% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 11th biggest position. Commerzbank Aktiengesellschaft FI’s holdings in Palo Alto Networks were worth $83,229,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks in the 1st quarter worth approximately $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of Palo Alto Networks in the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. raised its holdings in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. Ulland Investment Advisors LLC purchased a new stake in Palo Alto Networks during the 1st quarter valued at $30,000. Finally, ICA Group Wealth Management LLC bought a new stake in Palo Alto Networks in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PANW. DA Davidson upped their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company increased their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday. Royal Bank of Canada boosted their target price on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday. Sanford C. Bernstein boosted their price target on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, BTIG Research raised their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $360.20.

Palo Alto Networks Trading Up 7.2 %

PANW stock traded up $24.65 during trading on Tuesday, reaching $368.01. The stock had a trading volume of 12,843,340 shares, compared to its average volume of 4,441,305. The firm has a market cap of $119.16 billion, a PE ratio of 53.49, a PEG ratio of 4.48 and a beta of 1.14. The stock’s 50 day moving average is $328.10 and its two-hundred day moving average is $310.84. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm posted $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 125,866 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at $55,791,570. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the sale, the president now owns 20,501 shares in the company, valued at $6,292,166.92. The disclosure for this sale can be found here. Insiders sold 367,315 shares of company stock worth $118,696,590 in the last three months. Corporate insiders own 3.30% of the company’s stock.

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.