Assetmark Inc. Acquires 4,350 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Assetmark Inc. increased its holdings in Palo Alto Networks by 2.8%, acquiring an additional 4,350 shares, bringing its total to 161,877 shares valued at approximately $27.6 million.
• Shares of Palo Alto Networks were up by 1.0%, with a current market cap of $135.54 billion and a PE ratio of 116.15.
• Recent earnings reported $0.80 EPS, surpassing estimates, with a 15.3% year-over-year revenue increase to $2.29 billion.

Assetmark Inc. raised its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,877 shares of the network technology company's stock after purchasing an additional 4,350 shares during the period. Assetmark Inc.'s holdings in Palo Alto Networks were worth $27,623,000 at the end of the most recent quarter.

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

Palo Alto Networks Stock Up 1.0%

Shares of NASDAQ PANW opened at $203.27 on Friday. The firm has a market cap of $135.54 billion, a PE ratio of 116.15, a P/E/G ratio of 5.62 and a beta of 0.97. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The company's fifty day simple moving average is $196.34 and its 200 day simple moving average is $186.72.

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

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the transaction, the executive vice president directly owned 293,010 shares of the company's stock, valued at $55,458,002.70. This represents a 29.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the transaction, the executive vice president directly owned 101,135 shares in the company, valued at approximately $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 569,248 shares of company stock valued at $111,279,829 over the last 90 days. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PANW shares. 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. Morgan Stanley dropped their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Barclays dropped their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a research report on Monday, May 19th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $209.42.

Palo Alto Networks Company 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.

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