Baldwin Investment Management LLC Has $3.25 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Baldwin Investment Management LLC increased its stake in Palo Alto Networks by **18.1%**, acquiring an additional **2,919 shares** and bringing its total holdings to **19,030 shares**, valued at approximately **$3.25 million**.
• Palo Alto Networks reported **$2.29 billion** in revenue and an earnings per share of **$0.80**, exceeding analysts' expectations, and demonstrating a **15.3% year-over-year** revenue growth.
• Institutional investors currently own **79.82%** of Palo Alto Networks' stock, indicating strong institutional confidence in the company's long-term prospects.

Baldwin Investment Management LLC boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,030 shares of the network technology company's stock after purchasing an additional 2,919 shares during the period. Baldwin Investment Management LLC's holdings in Palo Alto Networks were worth $3,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PANW. Brighton Jones LLC lifted its stake in Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock valued at $1,230,000 after purchasing an additional 4,031 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Palo Alto Networks by 115.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock valued at $8,004,000 after purchasing an additional 23,586 shares during the last quarter. Orion Portfolio Solutions LLC lifted its stake in Palo Alto Networks by 85.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 32,955 shares of the network technology company's stock valued at $5,997,000 after purchasing an additional 15,205 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Palo Alto Networks by 126.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 11,870 shares of the network technology company's stock valued at $2,160,000 after purchasing an additional 6,621 shares during the last quarter. Finally, Allstate Corp purchased a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $3,493,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on PANW. 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. Truist Financial reduced their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Guggenheim reiterated a "sell" rating and issued a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price objective on shares of 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research note on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks has an average rating of "Moderate Buy" and an average price target of $209.42.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded up $1.23 during midday trading on Monday, reaching $204.50. 2,132,425 shares of the company's stock were exchanged, compared to its average volume of 4,193,833. The company's 50 day simple moving average is $196.55 and its two-hundred day simple moving average is $187.13. The firm has a market capitalization of $136.36 billion, a PE ratio of 116.86, a price-to-earnings-growth ratio of 5.67 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.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion during 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 firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.66 EPS. On average, research analysts anticipate 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 Dipak Golechha sold 5,000 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the sale, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. This trade represents a 4.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the sale, the executive vice president owned 3,243,516 shares of the company's stock, valued at $644,356,888.56. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock worth $111,279,829 over the last ninety days. Company 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.