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

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

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

Insiders Place Their Bets

In related news, CAO Josh D. Paul sold 600 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total transaction of $122,400.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $200.86, for a total value of $24,258,665.64. Following the transaction, the executive vice president directly owned 235,482 shares in the company, valued at approximately $47,298,914.52. The trade was a 33.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 669,248 shares of company stock worth $127,820,829. Insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Down 6.8%

PANW stock traded down $13.99 during midday trading on Thursday, hitting $192.07. 9,212,891 shares of the company's stock were exchanged, compared to its average volume of 5,405,109. The business has a 50-day simple moving average of $195.05 and a two-hundred day simple moving average of $185.79. The stock has a market capitalization of $128.07 billion, a PE ratio of 109.75, a P/E/G ratio of 5.75 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.

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, beating analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business's revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. As a group, research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PANW. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Monday, May 19th. Barclays cut their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Wells Fargo & Company upped their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, Jefferies Financial Group upped their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a report on Friday, May 16th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

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.