Cullen Frost Bankers Inc. Buys 8,123 Shares of Palo Alto Networks, Inc. $PANW

Cullen Frost Bankers Inc. increased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,755 shares of the network technology company’s stock after acquiring an additional 8,123 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Palo Alto Networks were worth $12,575,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PANW. Brighton Jones LLC raised its position in shares of Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after buying an additional 4,031 shares in the last quarter. Bison Wealth LLC increased its stake in Palo Alto Networks by 169.1% in the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock worth $948,000 after acquiring an additional 3,275 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Palo Alto Networks by 66.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,484 shares of the network technology company’s stock valued at $713,000 after acquiring an additional 1,389 shares in the last quarter. Canopy Partners LLC raised its holdings in shares of Palo Alto Networks by 31.1% in the 2nd quarter. Canopy Partners LLC now owns 2,194 shares of the network technology company’s stock valued at $449,000 after acquiring an additional 520 shares in the last quarter. Finally, American National Bank & Trust boosted its position in shares of Palo Alto Networks by 54.8% during the 2nd quarter. American National Bank & Trust now owns 407 shares of the network technology company’s stock valued at $83,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In other Palo Alto Networks news, 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 owned 46,005 shares of the company’s stock, valued at $8,502,184.05. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James J. Goetz sold 12,500 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $195.33, for a total transaction of $2,441,625.00. Following the completion of the transaction, the director owned 75,184 shares in the company, valued at $14,685,690.72. The trade was a 14.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 382,016 shares of company stock valued at $76,386,460 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Palo Alto Networks Trading Down 1.1%

NASDAQ PANW opened at $180.18 on Monday. The firm has a market cap of $125.59 billion, a PE ratio of 114.04, a price-to-earnings-growth ratio of 4.29 and a beta of 0.76. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The stock has a 50-day moving average of $188.56 and a 200-day moving average of $194.96.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PANW shares. TD Cowen upped their price objective on shares of Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Northland Securities increased their price target on shares of Palo Alto Networks from $177.00 to $190.00 and gave the stock a “market perform” rating in a report on Thursday, November 20th. BTIG Research restated a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, December 17th. Wedbush reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 20th. Finally, Royal Bank Of Canada increased their target price on Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Thirty-one investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $229.09.

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.