Integrated Investment Consultants LLC Has $346,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Integrated Investment Consultants LLC decreased its stake in Palo Alto Networks, Inc. by 83.1%, ending with a position worth $346,000 after selling 9,982 shares during the first quarter.
• Several large investors significantly increased their holdings in Palo Alto Networks during the fourth quarter, with Brighton Jones LLC raising its stake by 147.7%.
• Palo Alto Networks reported earnings of $0.80 per share for the last quarter, exceeding analysts' estimates of $0.77, with a quarterly revenue of $2.29 billion.

Integrated Investment Consultants LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 83.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,030 shares of the network technology company's stock after selling 9,982 shares during the period. Integrated Investment Consultants LLC's holdings in Palo Alto Networks were worth $346,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PANW. Brighton Jones LLC raised its holdings in shares of Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock worth $1,230,000 after buying an additional 4,031 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Palo Alto Networks by 115.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock worth $8,004,000 after buying an additional 23,586 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Palo Alto Networks by 85.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 32,955 shares of the network technology company's stock worth $5,997,000 after buying an additional 15,205 shares in the last quarter. Level Four Advisory Services LLC raised its holdings in shares of Palo Alto Networks by 101.4% in the 4th quarter. Level Four Advisory Services LLC now owns 24,228 shares of the network technology company's stock worth $4,409,000 after buying an additional 12,200 shares in the last quarter. Finally, DnB Asset Management AS raised its holdings in shares of Palo Alto Networks by 110.0% in the 4th quarter. DnB Asset Management AS now owns 115,443 shares of the network technology company's stock worth $21,007,000 after buying an additional 60,478 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $203.27 on Friday. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The stock has a market capitalization of $135.54 billion, a P/E ratio of 116.15, a PEG ratio of 5.67 and a beta of 0.97. The stock has a 50-day simple moving average of $196.34 and a 200 day simple moving average of $186.81.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 earnings per share. Research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $189.27, for a total value of $22,858,894.98. Following the completion of the sale, the executive vice president directly owned 293,010 shares in the company, valued at approximately $55,458,002.70. The trade was a 29.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the sale, the executive vice president owned 3,243,516 shares of the company's stock, valued at $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock valued at $111,279,829 in the last 90 days. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PANW shares. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. Wells Fargo & Company increased their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Roth Capital initiated coverage on Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 target price on the stock. Barclays reduced their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $209.42.

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.

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