Cullen Frost Bankers Inc. Has $625,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cullen Frost Bankers Inc. increased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 27.3% in the second quarter, HoldingsChannel reports. The firm owned 1,845 shares of the network technology company’s stock after purchasing an additional 396 shares during the period. Cullen Frost Bankers Inc.’s holdings in Palo Alto Networks were worth $625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks during the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. raised its position in Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Ulland Investment Advisors LLC acquired a new position in Palo Alto Networks in the first quarter worth $30,000. Finally, Central Bank & Trust Co. grew its holdings in shares of Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

PANW stock opened at $335.82 on Monday. The stock has a market capitalization of $108.74 billion, a P/E ratio of 48.81, a P/E/G ratio of 4.89 and a beta of 1.13. Palo Alto Networks, Inc. has a fifty-two week low of $224.64 and a fifty-two week high of $380.84. The business has a 50-day moving average of $335.82 and a 200-day moving average of $310.43.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Equities analysts expect that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PANW. Daiwa Capital Markets started coverage on Palo Alto Networks in a report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price target for the company. Evercore ISI upped their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Oppenheimer raised their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Piper Sandler upped their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Northland Securities increased their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research report on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $366.08.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the sale, the director now owns 41,517 shares in the company, valued at $14,175,564.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The disclosure for this sale can be found here. Insiders sold 464,075 shares of company stock worth $154,029,567 in the last quarter. 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.