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

NBT Bank N A NY boosted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 14.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,943 shares of the network technology company’s stock after buying an additional 4,278 shares during the period. NBT Bank N A NY’s holdings in Palo Alto Networks were worth $6,911,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Klingman & Associates LLC increased its position in Palo Alto Networks by 2.2% during the third quarter. Klingman & Associates LLC now owns 2,131 shares of the network technology company’s stock worth $434,000 after acquiring an additional 46 shares during the period. Contravisory Investment Management Inc. boosted its holdings in Palo Alto Networks by 1.8% in the 3rd quarter. Contravisory Investment Management Inc. now owns 2,742 shares of the network technology company’s stock valued at $558,000 after purchasing an additional 48 shares during the period. Mattern Wealth Management LLC grew its position in Palo Alto Networks by 2.9% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,692 shares of the network technology company’s stock worth $345,000 after purchasing an additional 48 shares during the last quarter. Astoria Portfolio Advisors LLC. increased its holdings in shares of Palo Alto Networks by 2.1% during the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 2,467 shares of the network technology company’s stock worth $496,000 after purchasing an additional 50 shares during the period. Finally, PTM Wealth Management LLC raised its position in shares of Palo Alto Networks by 4.0% during the third quarter. PTM Wealth Management LLC now owns 1,300 shares of the network technology company’s stock valued at $276,000 after buying an additional 50 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director James J. Goetz sold 12,500 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the sale, the director directly owned 75,184 shares in the company, valued at $14,685,690.72. This represents a 14.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total value of $147,848.00. Following the sale, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 382,016 shares of company stock valued at $76,386,460 over the last three months. 1.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PANW. Northland Securities lifted their target price on Palo Alto Networks from $177.00 to $190.00 and gave the stock a “market perform” rating in a research report on Thursday, November 20th. Wedbush reissued an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 20th. Hsbc Global Res cut Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research report on Thursday, November 20th. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research report on Thursday, November 20th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $240.00 price target (up previously from $236.00) on shares of Palo Alto Networks in a report on Thursday, November 20th. Thirty-one investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.09.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $187.66 on Friday. The firm has a market capitalization 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 stock has a fifty day moving average price of $191.35 and a two-hundred 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 issued its earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.46 billion. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.56 EPS. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS 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.