Palo Alto Networks, Inc. (NASDAQ:PANW) is Arcadia Investment Management Corp MI's 4th Largest Position

Arcadia Investment Management Corp MI trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,549 shares of the network technology company's stock after selling 6,038 shares during the quarter. Palo Alto Networks comprises 4.3% of Arcadia Investment Management Corp MI's portfolio, making the stock its 4th biggest holding. Arcadia Investment Management Corp MI's holdings in Palo Alto Networks were worth $23,642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Transce3nd LLC acquired a new position in shares of Palo Alto Networks during the fourth quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL increased its position in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Anchor Investment Management LLC boosted its position in Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. increased its position in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after purchasing an additional 75 shares during the period. Finally, Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth approximately $29,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded down $4.68 during trading on Friday, hitting $187.39. 7,403,780 shares of the company's stock traded hands, compared to its average volume of 5,412,701. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The business has a 50-day simple moving average of $195.05 and a 200-day simple moving average of $185.79. The stock has a market capitalization of $124.95 billion, a P/E ratio of 107.08, a PEG ratio of 5.75 and a beta of 0.97.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PANW shares. Jefferies Financial Group lifted their price target on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Truist Financial reduced their price target on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Guggenheim reiterated a "sell" rating and set a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. Finally, Morgan Stanley dropped their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Insiders Place Their Bets

In other news, Director Aparna Bawa sold 526 shares of the firm's stock in a transaction 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 transaction, the director owned 8,632 shares in the company, valued at approximately $1,640,080. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the completion of the sale, the executive vice president directly 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 position. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock valued at $111,279,829 over the last quarter. Corporate insiders own 2.50% 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.