Bank Julius Baer & Co. Ltd Zurich Sells 2,160 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Bank Julius Baer & Co. Ltd Zurich decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.5% in the 4th quarter, HoldingsChannel reports. The firm owned 18,499 shares of the network technology company’s stock after selling 2,160 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Palo Alto Networks were worth $5,455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Pacific Financial lifted its position in Palo Alto Networks by 421.7% during the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after purchasing an additional 97 shares during the period. Webster Bank N. A. lifted its position in Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after purchasing an additional 85 shares during the period. Cedar Mountain Advisors LLC lifted its position in Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after purchasing an additional 47 shares during the period. Byrne Asset Management LLC lifted its position in Palo Alto Networks by 277.8% during the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock worth $32,000 after purchasing an additional 100 shares during the period. Finally, MV Capital Management Inc. lifted its position in Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.9 %

Shares of PANW stock opened at $291.42 on Friday. The company has a market cap of $94.16 billion, a price-to-earnings ratio of 45.53, a price-to-earnings-growth ratio of 3.93 and a beta of 1.19. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84. The firm has a 50 day moving average of $287.61 and a 200-day moving average of $292.10.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.58 by $0.22. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Analysts anticipate that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now directly owns 25,812 shares in the company, valued at approximately $7,230,715.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the transaction, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock worth $49,395,553 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 21st. Royal Bank of Canada increased their target price on shares of Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a report on Wednesday, April 17th. Susquehanna dropped their target price on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a report on Monday, February 26th. Finally, Truist Financial increased their target price on shares of Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Eleven analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Profile

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.