Allen Investment Management LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 196,718 shares of the network technology company's stock after selling 3,829 shares during the quarter. Allen Investment Management LLC's holdings in Palo Alto Networks were worth $33,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also modified their holdings of PANW. Geode Capital Management LLC lifted its stake in shares of Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock valued at $2,611,013,000 after buying an additional 6,725,148 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock valued at $1,533,419,000 after buying an additional 3,841,359 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Palo Alto Networks by 133.7% during the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after buying an additional 4,486,654 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Palo Alto Networks by 17.6% during the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock valued at $1,324,387,000 after buying an additional 1,088,631 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Palo Alto Networks by 98.0% during the 4th quarter. Nuveen Asset Management LLC now owns 6,158,580 shares of the network technology company's stock valued at $1,120,615,000 after buying an additional 3,047,625 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.
Insider Transactions at Palo Alto Networks
In other news, CAO Josh D. Paul sold 600 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total value of $122,400.00. Following the completion of the sale, the chief accounting officer owned 41,433 shares of the company's stock, valued at approximately $8,452,332. This represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aparna Bawa sold 526 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the sale, the director directly owned 8,632 shares of the company's stock, valued at $1,640,080. The trade was a 5.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 569,248 shares of company stock worth $111,279,829. Insiders own 2.50% of the company's stock.
Palo Alto Networks Price Performance
Palo Alto Networks stock opened at $203.27 on Friday. The stock has a market cap of $135.54 billion, a price-to-earnings ratio of 116.15, a price-to-earnings-growth ratio of 5.62 and a beta of 0.97. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The firm has a 50-day moving average of $196.34 and a two-hundred day moving average of $186.72.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The company's revenue was up 15.3% compared to the same quarter last year. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms recently weighed in on PANW. Northland Securities lowered their target price 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. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Morgan Stanley reduced their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, 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. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $209.42.
View Our Latest Analysis on Palo Alto Networks
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.
Featured Stories
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 - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Palo Alto Networks, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palo Alto Networks wasn't on the list.
While Palo Alto Networks currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.
Get This Free Report