Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Lifted by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 357,119 shares of the network technology company's stock after buying an additional 3,509 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.05% of Palo Alto Networks worth $60,374,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in Palo Alto Networks by 147.7% during the 4th 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 in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Palo Alto Networks by 115.6% during the 4th 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 in the last quarter. Proficio Capital Partners LLC grew its stake in Palo Alto Networks by 215.8% during the 4th quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company's stock valued at $440,000 after purchasing an additional 1,651 shares in the last quarter. Personal CFO Solutions LLC acquired a new stake in Palo Alto Networks during the 4th quarter valued at approximately $213,000. Finally, AlphaQuest LLC grew its stake in Palo Alto Networks by 8.5% during the 4th quarter. AlphaQuest LLC now owns 2,828 shares of the network technology company's stock valued at $515,000 after purchasing an additional 221 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Down 6.8%

Shares of Palo Alto Networks stock traded down $13.99 on Thursday, reaching $192.07. 9,212,891 shares of the company were exchanged, compared to its average volume of 5,405,109. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The firm has a market capitalization of $128.07 billion, a price-to-earnings ratio of 109.75, a price-to-earnings-growth ratio of 5.75 and a beta of 0.97. The stock has a fifty day moving average price of $194.93 and a 200-day moving average price of $185.76.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. Palo Alto Networks's revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, July 7th. The stock was sold at an average price of $200.86, for a total transaction of $24,258,665.64. Following the transaction, the executive vice president owned 235,482 shares in the company, valued at approximately $47,298,914.52. The trade was a 33.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the transaction, the executive vice president owned 3,343,516 shares in the company, valued at $646,502,253.76. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 669,248 shares of company stock valued at $127,820,829 in the last ninety days. Company insiders own 2.50% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on PANW. Roth Capital began coverage on Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective for the company. Sanford C. Bernstein set a $225.00 price objective on Palo Alto Networks and gave the company an "outperform" rating in a research note on Wednesday, May 21st. KeyCorp reiterated an "overweight" rating and issued a $220.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. decreased their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.