Palo Alto Networks logoCapital Investment Advisors LLC cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating) by 4.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,397 shares of the network technology company’s stock after selling 68 shares during the period. Capital Investment Advisors LLC’s holdings in Palo Alto Networks were worth $279,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PANW. Dark Forest Capital Management LP raised its holdings in shares of Palo Alto Networks by 2,950.0% in the fourth quarter. Dark Forest Capital Management LP now owns 183 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 177 shares during the last quarter. Gray Fox Wealth Advisors LLC acquired a new position in Palo Alto Networks during the fourth quarter worth $26,000. ST Germain DJ Co. Inc. increased its holdings in Palo Alto Networks by 205.3% during the fourth quarter. ST Germain DJ Co. Inc. now owns 63,353 shares of the network technology company’s stock worth $26,000 after buying an additional 42,600 shares during the last quarter. Worth Asset Management LLC acquired a new position in Palo Alto Networks during the first quarter worth $26,000. Finally, Spirit of America Management Corp NY acquired a new position in Palo Alto Networks during the fourth quarter worth $28,000. 89.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $182.57, for a total transaction of $6,572,520.00. Following the completion of the transaction, the executive vice president now owns 1,702,898 shares of the company’s stock, valued at $310,898,087.86. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $182.57, for a total value of $6,572,520.00. Following the completion of the transaction, the executive vice president now owns 1,702,898 shares of the company’s stock, valued at $310,898,087.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $183.12, for a total value of $8,240,400.00. Following the completion of the transaction, the executive vice president now directly owns 605,212 shares of the company’s stock, valued at approximately $110,826,421.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,758 shares of company stock valued at $54,612,872. 3.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Want More Great Investment Ideas?

PANW has been the topic of a number of recent analyst reports. Mizuho boosted their target price on shares of Palo Alto Networks from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, May 24th. Wells Fargo & Company boosted their target price on shares of Palo Alto Networks from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, May 24th. Scotiabank boosted their target price on shares of Palo Alto Networks from $212.00 to $222.00 and gave the stock a “sector outperform” rating in a report on Wednesday, May 24th. BMO Capital Markets boosted their target price on shares of Palo Alto Networks from $228.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, May 24th. Finally, 58.com reaffirmed a “maintains” rating on shares of Palo Alto Networks in a research report on Thursday, June 8th. Five analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $234.87.

Palo Alto Networks Trading Up 4.3 %

Shares of NASDAQ PANW opened at $249.15 on Friday. The company has a market cap of $76.20 billion, a price-to-earnings ratio of 395.48, a PEG ratio of 5.50 and a beta of 1.16. Palo Alto Networks, Inc. has a 12 month low of $132.22 and a 12 month high of $249.26. The stock has a 50-day moving average price of $205.42 and a two-hundred day moving average price of $190.43.

Palo Alto Networks (NASDAQ:PANW – Get Rating) last issued its earnings results on Tuesday, May 23rd. The network technology company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.23 by $0.15. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. Palo Alto Networks had a return on equity of 50.01% and a net margin of 3.32%. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.42 earnings per share for the current year.

Palo Alto Networks Profile

(Get Rating)

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: the United States, Israel, and Other Countries. The company was founded by Nir Zuk in March 2005 and is headquartered in Santa Clara, CA.

See Also

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW – Get Rating).

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

Receive News & Ratings for Palo Alto Networks Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Palo Alto Networks and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

Explore More

CashApp adds support for Bitcoin Lightning Network

January 6, 2024 0 Comments 5 tags

According to a new page added to its support section on Oct. 25, Cash App — a mobile phone payment processing app created by Block Inc. — has added support

Yousif Capital Management LLC Cuts Holdings in AMC Networks Inc. (NASDAQ:AMCX)

January 5, 2024 0 Comments 5 tags

Yousif Capital Management LLC trimmed its holdings in shares of AMC Networks Inc. (NASDAQ:AMCX – Get Rating) by 9.0% during the 2nd quarter, according to the company in its most

Here’s how the Toronto-area transit network could look in 2040

November 7, 2023 0 Comments 5 tags

The GO Transit network is undergoing a historic expansion, but one railfan has envisioned a future system that goes well beyond the current network improvements with a vision of service