Todays Report: The Huntington National Bank reached $1,245,000 position of Palo Alto Networks Inc. (PANW)

The Huntington National Bank reached $1,245,000 position  of Palo Alto Networks Inc. (PANW)

Huntington National Bank boosted its stake in shares of Palo Alto Networks Inc. (NYSE:PANW) by 9,298.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,150 shares of the network technology company’s stock after buying an additional 10,042 shares during the period. Huntington National Bank’s holdings in Palo Alto Networks were worth $1,245,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. boosted its position in shares of Palo Alto Networks by 10.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 814 shares of the network technology company’s stock worth $100,000 after buying an additional 76 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of Palo Alto Networks by 6.7% in the second quarter. Integrated Investment Consultants LLC now owns 1,040 shares of the network technology company’s stock worth $128,000 after buying an additional 65 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of Palo Alto Networks by 128.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,155 shares of the network technology company’s stock worth $142,000 after buying an additional 649 shares during the period. Hartford Investment Management Co. boosted its position in shares of Palo Alto Networks by 12.0% in the second quarter. Hartford Investment Management Co. now owns 1,810 shares of the network technology company’s stock worth $222,000 after buying an additional 194 shares during the period. Finally, Reynolds Capital Management LLC bought a new position in shares of Palo Alto Networks during the first quarter worth about $228,000. Institutional investors and hedge funds own 80.10% of the company’s stock.

Shares of Palo Alto Networks Inc. (NYSE:PANW) traded down 2.98% during trading on Monday, reaching $146.00. The company’s stock had a trading volume of 1,478,348 shares. Palo Alto Networks Inc. has a 12-month low of $111.09 and a 12-month high of $194.73. The stock’s 50-day moving average is $150.60 and its 200-day moving average is $139.29. The stock’s market cap is $13.26 billion.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Tuesday, August 30th. The network technology company reported $0.50 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.50. Palo Alto Networks had a negative return on equity of 34.28% and a negative net margin of 16.39%. The business earned $400.80 million during the quarter, compared to the consensus estimate of $389.90 million. During the same period last year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. Equities research analysts anticipate that Palo Alto Networks Inc. will post $2.78 earnings per share for the current fiscal year.

Several research firms have recently weighed in on PANW. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Palo Alto Networks in a report on Friday, September 30th. Vetr cut Palo Alto Networks from a “strong-buy” rating to a “buy” rating and set a $178.24 price objective on the stock. in a report on Monday, October 3rd. Wells Fargo & Co. reiterated an “outperform” rating on shares of Palo Alto Networks in a report on Monday, September 26th. Deutsche Bank AG reiterated a “hold” rating on shares of Palo Alto Networks in a report on Saturday. Finally, Imperial Capital reiterated an “outperform” rating and set a $190.00 price objective on shares of Palo Alto Networks in a report on Monday, September 19th. Seven investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $181.48.

In other news, Director Daniel J. Warmenhoven sold 1,950 shares of the firm’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $159.61, for a total value of $311,239.50. Following the completion of the transaction, the director now directly owns 530 shares of the company’s stock, valued at $84,593.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nir Zuk sold 103,152 shares of the firm’s stock in a transaction on Friday, October 7th. The stock was sold at an average price of $159.36, for a total value of $16,438,302.72. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.

About Palo Alto Networks

Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

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