IPG Investment Advisors LLC Reduces Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

IPG Investment Advisors LLC lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,779 shares of the network technology company’s stock after selling 109 shares during the period. IPG Investment Advisors LLC’s holdings in Palo Alto Networks were worth $2,527,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PANW. Norges Bank purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $751,276,000. Geode Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 69.1% in the second quarter. Geode Capital Management LLC now owns 5,709,428 shares of the network technology company’s stock valued at $1,455,174,000 after purchasing an additional 2,332,827 shares in the last quarter. Moneta Group Investment Advisors LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $204,728,000. Northern Trust Corp lifted its stake in shares of Palo Alto Networks by 27.2% during the second quarter. Northern Trust Corp now owns 3,343,304 shares of the network technology company’s stock valued at $854,248,000 after buying an additional 715,850 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Palo Alto Networks by 60.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,625,961 shares of the network technology company’s stock valued at $415,449,000 after buying an additional 611,608 shares during the period. Hedge funds and other institutional investors own 85.69% of the company’s stock.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 30,678 shares of Palo Alto Networks stock in a transaction on Friday, November 24th. The shares were sold at an average price of $266.15, for a total transaction of $8,164,949.70. Following the sale, the chief executive officer now owns 866,395 shares in the company, valued at $230,591,029.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, CEO Nikesh Arora sold 30,678 shares of Palo Alto Networks stock in a transaction on Friday, November 24th. The shares were sold at an average price of $266.15, for a total transaction of $8,164,949.70. Following the sale, the chief executive officer now owns 866,395 shares in the company, valued at $230,591,029.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction on Monday, January 29th. The stock was sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the sale, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 419,426 shares of company stock valued at $119,134,439. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 1.5 %

Shares of NASDAQ:PANW traded down $5.67 during trading on Monday, reaching $371.23. The stock had a trading volume of 1,687,174 shares, compared to its average volume of 3,133,633. Palo Alto Networks, Inc. has a 52 week low of $164.41 and a 52 week high of $380.84. The firm has a market capitalization of $117.05 billion, a price-to-earnings ratio of 210.39, a P/E/G ratio of 5.18 and a beta of 1.26. The stock has a fifty day simple moving average of $317.23 and a two-hundred day simple moving average of $269.36.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last released its quarterly earnings results on Wednesday, November 15th. The network technology company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. Palo Alto Networks had a net margin of 8.52% and a return on equity of 48.58%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.84 billion. On average, analysts forecast that Palo Alto Networks, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

PANW has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Palo Alto Networks from $272.00 to $326.00 and gave the stock an “overweight” rating in a research report on Monday, December 11th. Sanford C. Bernstein began coverage on shares of Palo Alto Networks in a research note on Thursday, January 18th. They set an “outperform” rating on the stock. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. DZ Bank assumed coverage on shares of Palo Alto Networks in a research report on Wednesday, October 18th. They issued a “buy” rating and a $310.00 price target on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $310.00 price objective on shares of Palo Alto Networks in a report on Thursday, November 16th. Six equities research analysts have rated the stock with a hold rating and thirty-five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $292.23.

Check Out Our Latest Stock Report on PANW

Palo Alto Networks Profile

(Free Report)

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

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