Consolidated Investment Group LLC Sells 6,748 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• Consolidated Investment Group trimmed its stake in Palo Alto Networks by 7.9%, selling 6,748 shares and now holds 79,034 shares worth $14.56 million, about 1.7% of its portfolio and its 11th largest position.
• Company insiders sold a total of 30,356 shares (~$4.98 million) over the last quarter, including CAO Josh D. Paul (1,100 shares at $161.40) and Director John P. Key (1,572 shares at $173.32); insiders now own 1.40% of the stock.
• Palo Alto reported fiscal results beating EPS and revenue estimates (EPS $1.03 vs. $0.94; revenue $2.59B, +14.9%), yet trades at a high valuation (market cap $133.9B, P/E 90.7) and holds a MarketBeat consensus of Moderate Buy with a $209.95 average price target.

Consolidated Investment Group LLC trimmed its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,034 shares of the network technology company's stock after selling 6,748 shares during the period. Palo Alto Networks makes up about 1.7% of Consolidated Investment Group LLC's portfolio, making the stock its 11th biggest position. Consolidated Investment Group LLC's holdings in Palo Alto Networks were worth $14,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Palo Alto Networks by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 65,269,963 shares of the network technology company's stock worth $13,290,270,000 after acquiring an additional 1,253,589 shares during the last quarter. State Street Corp lifted its stake in shares of Palo Alto Networks by 1.7% during the 3rd quarter. State Street Corp now owns 29,736,916 shares of the network technology company's stock worth $6,055,031,000 after acquiring an additional 505,924 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Palo Alto Networks by 0.5% during the 3rd quarter. Northern Trust Corp now owns 7,528,248 shares of the network technology company's stock worth $1,532,902,000 after acquiring an additional 36,511 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Palo Alto Networks by 11.5% during the 3rd quarter. First Trust Advisors LP now owns 5,906,963 shares of the network technology company's stock worth $1,202,776,000 after acquiring an additional 611,375 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Palo Alto Networks by 0.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,037,320 shares of the network technology company's stock worth $822,079,000 after acquiring an additional 17,394 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Josh D. Paul sold 1,100 shares of the business's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $161.40, for a total transaction of $177,540.00. Following the transaction, the chief accounting officer directly owned 83,136 shares in the company, valued at $13,418,150.40. The trade was a 1.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Key sold 1,572 shares of the business's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $173.32, for a total value of $272,459.04. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $3,466,400. This trade represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,356 shares of company stock worth $4,981,575 over the last quarter. Company insiders own 1.40% of the company's stock.

Palo Alto Networks Trading Up 1.6%

Shares of NASDAQ:PANW opened at $164.11 on Thursday. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $223.61. The business's fifty day simple moving average is $160.20 and its 200-day simple moving average is $183.79. The company has a market capitalization of $133.91 billion, a PE ratio of 90.67, a P/E/G ratio of 5.83 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.09. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the business posted $0.81 EPS. The business's revenue was up 14.9% compared to the same quarter last year. Research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PANW shares. Citizens Jmp reissued a "market outperform" rating and set a $250.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 18th. BMO Capital Markets decreased their price target on Palo Alto Networks from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, February 18th. The Goldman Sachs Group decreased their price target on Palo Alto Networks from $240.00 to $224.00 and set a "buy" rating for the company in a research note on Wednesday, February 18th. Loop Capital decreased their price target on Palo Alto Networks from $190.00 to $160.00 and set a "hold" rating for the company in a research note on Wednesday, February 18th. Finally, HSBC decreased their target price on Palo Alto Networks from $157.00 to $114.00 in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $209.95.

Palo Alto Networks Profile

Palo Alto Networks NASDAQ: PANW is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company's product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.