Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Lessened by Advisor Resource Council

Advisor Resource Council decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 68.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,284 shares of the network technology company’s stock after selling 7,011 shares during the quarter. Advisor Resource Council’s holdings in Palo Alto Networks were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PANW. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after acquiring an additional 1,058,127 shares in the last quarter. Norges Bank acquired a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $1,563,020,000. Clearbridge Investments LLC grew its stake in shares of Palo Alto Networks by 1.0% in the 4th quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock valued at $924,905,000 after buying an additional 30,013 shares in the last quarter. Jennison Associates LLC increased its holdings in Palo Alto Networks by 83.1% in the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock worth $771,643,000 after buying an additional 1,187,915 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Palo Alto Networks by 29,086.9% during the fourth quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after acquiring an additional 2,050,917 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 0.2 %

Shares of NASDAQ:PANW traded up $0.76 during mid-day trading on Thursday, reaching $341.20. 1,022,648 shares of the stock were exchanged, compared to its average volume of 2,980,896. The stock’s 50 day simple moving average is $309.18 and its 200-day simple moving average is $307.63. Palo Alto Networks, Inc. has a one year low of $201.17 and a one year high of $380.84. The company has a market cap of $110.48 billion, a P/E ratio of 49.59, a P/E/G ratio of 5.21 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. Analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Susquehanna raised their target price on Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a report on Tuesday, May 21st. Redburn Atlantic upped their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Royal Bank of Canada dropped their price objective on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Finally, Citigroup lifted their price objective on Palo Alto Networks from $335.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Twelve investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $326.29.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60. Following the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $49,895,983.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the sale, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $49,895,983.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the sale, the executive vice president now owns 1,295,567 shares in the company, valued at $373,434,232.08. The disclosure for this sale can be found here. Insiders have sold 362,525 shares of company stock worth $110,064,607 over the last 90 days. Company insiders own 3.30% of the company’s stock.

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.