Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA boosted its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 56,111 shares of the network technology company's stock after purchasing an additional 3,681 shares during the period. Banque Pictet & Cie SA's holdings in Palo Alto Networks were worth $9,575,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Transce3nd LLC purchased a new position in Palo Alto Networks during the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL boosted its holdings in shares of 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 holdings in shares of 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 holdings in shares of 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 purchased a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $29,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the business's 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 approximately $55,458,002.70. The trade was a 29.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the business's 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. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 569,248 shares of company stock valued at $111,279,829. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Trading Down 2.4%

PANW traded down $4.68 during trading on Friday, hitting $187.39. 7,403,780 shares of the company's stock were exchanged, compared to its average volume of 5,419,524. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The stock has a 50 day moving average price of $195.04 and a 200 day moving average price of $185.75. The firm has a market cap of $124.95 billion, a P/E ratio of 107.08, a price-to-earnings-growth ratio of 5.23 and a beta of 0.97.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. Analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the topic of several analyst reports. Truist Financial lowered their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. TD Securities reaffirmed a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. 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. Northland Securities lowered their target price on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a report on Wednesday, May 21st. Finally, Wells Fargo & Company lifted their target price 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. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of "Moderate Buy" and an average 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.