Bank Julius Baer & Co. Ltd Zurich Has $125.74 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bank Julius Baer & Co. Ltd Zurich grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2,511.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 670,067 shares of the network technology company's stock after acquiring an additional 644,413 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned about 0.10% of Palo Alto Networks worth $125,743,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Transce3nd LLC purchased a new stake in Palo Alto Networks during the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 64.0% in the fourth 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. Kiely Wealth Advisory Group Inc. boosted its stake 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 valued at $29,000 after acquiring an additional 75 shares in the last quarter. Anchor Investment Management LLC boosted its stake in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 78 shares in the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Palo Alto Networks in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PANW. Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the company an "outperform" rating in a report on Wednesday, May 21st. Barclays reduced 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 report on Wednesday, May 21st. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price for the company in a report on Thursday, April 10th. Finally, Truist Financial lowered their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $209.16.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $2.49 during trading on Wednesday, reaching $199.22. 3,048,289 shares of the company's stock traded hands, compared to its average volume of 5,389,911. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The company has a 50 day moving average of $195.58 and a 200-day moving average of $186.10. The stock has a market capitalization of $132.84 billion, a P/E ratio of 113.84, a price-to-earnings-growth ratio of 5.58 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its 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 firm had revenue of $2.29 billion during 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 previous year, the business posted $0.66 EPS. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Aparna Bawa sold 526 shares of the 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 completion of the sale, the director owned 8,632 shares in the company, valued at approximately $1,640,080. This represents a 5.74% decrease in their position. The sale 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 on Monday, July 7th. The shares were sold at an average price of $200.86, for a total value of $24,258,665.64. Following the sale, the executive vice president owned 235,482 shares of the company's stock, valued at $47,298,914.52. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 569,248 shares of company stock valued at $111,279,829 in the last ninety days. 2.50% of the stock is owned by company insiders.

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.