Integrated Advisors Network LLC Buys 34,967 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Integrated Advisors Network LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 76.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,508 shares of the network technology company's stock after purchasing an additional 34,967 shares during the quarter. Palo Alto Networks accounts for about 0.7% of Integrated Advisors Network LLC's investment portfolio, making the stock its 25th biggest holding. Integrated Advisors Network LLC's holdings in Palo Alto Networks were worth $14,649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after buying an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after acquiring an additional 6,725,148 shares during the period. Norges Bank purchased a new stake in Palo Alto Networks during the fourth quarter valued at $970,736,000. Northern Trust Corp lifted its holdings in Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after acquiring an additional 4,486,654 shares during the period. Finally, Capital Research Global Investors boosted its position in Palo Alto Networks by 83.8% in the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after purchasing an additional 3,841,359 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the transaction, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 568,962 shares of company stock worth $96,933,690. Insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Northland Securities reduced their price target on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research report on Wednesday, May 21st. Wells Fargo & Company increased their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Truist Financial dropped their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada restated an "outperform" rating and issued a $225.00 price objective on shares of Palo Alto Networks in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. lowered their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $206.40.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $0.34 during trading on Wednesday, hitting $187.80. The company had a trading volume of 3,853,274 shares, compared to its average volume of 5,590,369. The stock has a market cap of $125.23 billion, a price-to-earnings ratio of 105.80, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. The company has a fifty day simple moving average of $178.16 and a two-hundred day simple moving average of $185.20. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39.

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

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.