Gateway Investment Advisers LLC Decreases Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Gateway Investment Advisers LLC trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 92.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,532 shares of the network technology company's stock after selling 82,427 shares during the quarter. Gateway Investment Advisers LLC's holdings in Palo Alto Networks were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Transce3nd LLC acquired a new stake in Palo Alto Networks in the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL raised its holdings in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its position in Palo Alto Networks by 265.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock worth $27,000 after acquiring an additional 106 shares during the last quarter. Kiely Wealth Advisory Group Inc. boosted its holdings in Palo Alto Networks by 100.0% during 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 during the period. Finally, Capital Advisors Ltd. LLC grew its position in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 79 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares of the company's stock, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now directly owns 321,774 shares of the company's stock, valued at $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 789,736 shares of company stock valued at $139,837,528. Insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $0.99 during midday trading on Wednesday, hitting $196.94. 1,198,961 shares of the company's stock were exchanged, compared to its average volume of 5,485,683. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The company has a market cap of $131.32 billion, a PE ratio of 110.95, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. The stock has a 50 day moving average price of $181.56 and a 200-day moving average price of $185.03.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the firm earned $0.66 EPS. The company's quarterly revenue was up 15.3% compared to the same quarter last year. On average, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on PANW. Barclays dropped their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Westpark Capital reaffirmed a "hold" rating and set a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Finally, HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Company 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.