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Investment Partners LTD. Buys Shares of 1,643 Palo Alto Networks, Inc. (NASDAQ:PANW)

Palo Alto Networks logo with Computer and Technology background

Investment Partners LTD. acquired a new stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,643 shares of the network technology company's stock, valued at approximately $280,000.

Other hedge funds also recently bought and sold shares of the company. Transce3nd LLC purchased a new position in Palo Alto Networks in the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its stake in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Anchor Investment Management LLC raised its stake in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. raised its stake in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Palo Alto Networks in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Trading Down 6.8%

Shares of PANW traded down $13.96 on Thursday, reaching $192.10. 7,910,479 shares of the company's stock traded hands, compared to its average volume of 5,399,572. The stock's 50 day simple moving average is $194.93 and its two-hundred day simple moving average is $185.76. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The stock has a market cap of $128.09 billion, a PE ratio of 109.77, a PEG ratio of 5.69 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the company earned $0.66 earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. Analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of recent research reports. Northland Securities dropped their price objective on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Monday, May 19th. KeyCorp reissued an "overweight" rating and set a $220.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Finally, 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. 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. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Read Our Latest Report on PANW

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the sale, the executive vice president owned 3,243,516 shares of the company's stock, valued at $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 600 shares of Palo Alto Networks stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total value of $122,400.00. Following the completion of the transaction, the chief accounting officer owned 41,433 shares in the company, valued at approximately $8,452,332. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 669,248 shares of company stock valued at $127,820,829. 2.50% of the stock is owned by insiders.

Palo Alto Networks Company 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.

See Also

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

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