Baader Bank Aktiengesellschaft Boosts Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Baader Bank Aktiengesellschaft significantly increased its stake in Palo Alto Networks by 331.9% in Q1, now holding shares worth approximately $1.06 million.
• Despite a recent 5.6% drop in stock price, Palo Alto Networks reported $0.80 earnings per share for the quarter, exceeding analysts' expectations of $0.77.
• Institutional investors own 79.82% of Palo Alto Networks' stock, indicating strong institutional interest and confidence in the company's future.

Baader Bank Aktiengesellschaft lifted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 331.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,220 shares of the network technology company's stock after purchasing an additional 4,780 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Palo Alto Networks were worth $1,061,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PANW. Wellington Shields & Co. LLC raised its stake in shares of Palo Alto Networks by 7.2% in the first quarter. Wellington Shields & Co. LLC now owns 12,148 shares of the network technology company's stock valued at $2,073,000 after acquiring an additional 816 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in Palo Alto Networks by 136.0% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 3,507 shares of the network technology company's stock worth $598,000 after purchasing an additional 2,021 shares during the period. Arkadios Wealth Advisors raised its position in Palo Alto Networks by 377.2% in the 1st quarter. Arkadios Wealth Advisors now owns 36,542 shares of the network technology company's stock valued at $6,236,000 after purchasing an additional 28,884 shares in the last quarter. University of Chicago acquired a new stake in shares of Palo Alto Networks during the 1st quarter worth about $266,000. Finally, Tredje AP fonden lifted its position in Palo Alto Networks by 70.4% in the first quarter. Tredje AP fonden now owns 320,407 shares of the network technology company's stock valued at $54,674,000 after acquiring an additional 132,427 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Down 1.6%

Shares of PANW stock traded down $2.76 on Friday, reaching $170.84. 2,535,295 shares of the stock were exchanged, compared to its average volume of 5,804,436. The stock has a market cap of $113.91 billion, a P/E ratio of 97.50, a price-to-earnings-growth ratio of 5.11 and a beta of 0.97. The firm has a 50 day moving average of $196.32 and a two-hundred day moving average of $187.19. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $210.39.

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 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm's revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity

In related news, CAO Josh D. Paul sold 600 shares of the firm'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 transaction, the chief accounting officer owned 41,433 shares in the company, valued at approximately $8,452,332. This trade represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 101,135 shares of the company's stock, 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. In the last 90 days, insiders have sold 569,248 shares of company stock worth $111,279,829. Insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Northland Securities cut their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 21st. KeyCorp downgraded Palo Alto Networks from an "overweight" rating to a "sector weight" rating in a report on Thursday. Finally, Jefferies Financial Group set a $235.00 target price on shares of Palo Alto Networks in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have assigned a buy rating to the company's stock. According to MarketBeat.com, Palo Alto Networks currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.61.

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.