IPG Investment Advisors LLC grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 6.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,230 shares of the network technology company's stock after acquiring an additional 1,522 shares during the period. Palo Alto Networks comprises approximately 1.0% of IPG Investment Advisors LLC's holdings, making the stock its 27th largest position. IPG Investment Advisors LLC's holdings in Palo Alto Networks were worth $4,305,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of PANW. Transce3nd LLC purchased a new stake in Palo Alto Networks in the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Anchor Investment Management LLC raised its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 78 shares during the last quarter. Capital A Wealth Management LLC purchased a new position in shares of Palo Alto Networks in the fourth quarter worth $29,000. Finally, HWG Holdings LP purchased a new position in shares of Palo Alto Networks during the first quarter worth $31,000. Institutional investors own 79.82% of the company's stock.
Insiders Place Their Bets
In other news, CAO Josh D. Paul sold 600 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total value of $122,400.00. Following the sale, the chief accounting officer owned 41,433 shares in the company, valued at approximately $8,452,332. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the firm'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 completion of the transaction, the executive vice president directly owned 3,243,516 shares of the company's stock, valued at approximately $644,356,888.56. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 448,474 shares of company stock valued at $88,420,934 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.
Palo Alto Networks Price Performance
NASDAQ PANW opened at $172.88 on Monday. The company has a 50 day simple moving average of $196.04 and a 200-day simple moving average of $187.36. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $210.39. The firm has a market capitalization of $115.28 billion, a price-to-earnings ratio of 98.79, a price-to-earnings-growth ratio of 4.11 and a beta of 0.94.
Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate 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 company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.
Analysts Set New Price Targets
A number of research firms have weighed in on PANW. KeyCorp cut shares of Palo Alto Networks from an "overweight" rating to a "sector weight" rating in a report on Thursday. Morgan Stanley reduced their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Barclays cut their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Thursday. Finally, HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price for the company in a report on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $209.61.
Read Our Latest Stock Analysis on PANW
Palo Alto Networks Company Profile
(
Free Report)
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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