Sava Infond d.o.o. cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 5.8% during the 1st quarter, HoldingsChannel reports. The fund owned 66,830 shares of the network technology company’s stock after selling 4,100 shares during the quarter. Palo Alto Networks accounts for approximately 2.2% of Sava Infond d.o.o.’s holdings, making the stock its 12th largest position. Sava Infond d.o.o.’s holdings in Palo Alto Networks were worth $11,404,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of PANW. Strategic Investment Solutions Inc. IL grew its stake in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. JDM Financial Group LLC grew its stake in Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock worth $59,000 after buying an additional 59 shares in the last quarter. Adero Partners LLC grew its stake in Palo Alto Networks by 4.3% during the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company’s stock worth $266,000 after buying an additional 64 shares in the last quarter. Snider Financial Group grew its stake in Palo Alto Networks by 0.4% during the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock worth $3,025,000 after buying an additional 65 shares in the last quarter. Finally, Grimes & Company Inc. grew its stake in Palo Alto Networks by 5.3% during the first quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company’s stock worth $224,000 after buying an additional 66 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on PANW shares. Guggenheim reiterated a “sell” rating and set a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Truist Financial reduced their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Roth Capital started coverage on shares of Palo Alto Networks in a research note on Thursday, May 15th. They set a “neutral” rating and a $210.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 21st. Finally, Hsbc Global Res upgraded shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.
Palo Alto Networks Stock Performance
Palo Alto Networks stock opened at $203.32 on Tuesday. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The firm has a 50 day moving average price of $188.10 and a two-hundred day moving average price of $185.08. The firm has a market cap of $135.57 billion, a price-to-earnings ratio of 116.18, a PEG ratio of 5.56 and a beta of 0.97.
Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business earned $0.66 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction on Friday, June 20th. The shares were sold at an average price of $201.05, for a total transaction of $160,840.00. Following the completion of the sale, the chief accounting officer now owns 42,033 shares of the company’s stock, valued at $8,450,734.65. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 790,536 shares of company stock worth $139,998,368. 2.50% of the stock is currently owned by insiders.
Palo Alto Networks Company 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.
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