David J Yvars Group Has $2.86 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

David J Yvars Group decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,779 shares of the network technology company’s stock after selling 2,060 shares during the quarter. Palo Alto Networks makes up 2.3% of David J Yvars Group’s portfolio, making the stock its 10th biggest holding. David J Yvars Group’s holdings in Palo Alto Networks were worth $2,863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PANW. Uniting Wealth Partners LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter worth $548,000. Rehmann Capital Advisory Group increased its position in Palo Alto Networks by 106.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company’s stock worth $433,000 after buying an additional 1,226 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Palo Alto Networks by 94.3% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock worth $2,122,000 after buying an additional 5,658 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in shares of Palo Alto Networks by 108.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company’s stock worth $3,886,000 after buying an additional 11,095 shares during the period. Finally, National Pension Service lifted its position in shares of Palo Alto Networks by 82.1% during the 4th quarter. National Pension Service now owns 1,345,740 shares of the network technology company’s stock valued at $244,871,000 after buying an additional 606,778 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $235.00 target price on shares of Palo Alto Networks in a report on Tuesday, May 20th. Hsbc Global Res upgraded shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 10th. Truist Financial decreased 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 report on Monday, March 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a report on Monday, May 19th. Finally, Guggenheim reiterated a “sell” rating and issued a $130.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $196.27 on Friday. The business’s 50 day moving average is $184.15 and its two-hundred day moving average is $185.06. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The stock has a market capitalization of $130.87 billion, a P/E ratio of 110.58, a PEG ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.66 EPS. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the transaction, the executive vice president now owns 3,343,516 shares of the company’s stock, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock worth $139,837,528 over the last three months. 2.50% of the stock is owned by insiders.

About Palo Alto Networks

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.