J. Safra Sarasin Holding AG Boosts Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• J. Safra Sarasin Holding AG increased its holdings in Palo Alto Networks by 2.0%, owning a total of 153,438 shares valued at approximately $26.2 million.
• Palo Alto Networks reported $0.80 EPS for the latest quarter, exceeding estimates, with year-over-year revenue growth of 15.3%.
• The stock is currently trading at $172.88, with a consensus rating of "Moderate Buy" from analysts, and an average price target of $209.61.

J. Safra Sarasin Holding AG grew its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 153,438 shares of the network technology company's stock after acquiring an additional 2,958 shares during the period. J. Safra Sarasin Holding AG's holdings in Palo Alto Networks were worth $26,183,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Transce3nd LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at about $25,000. Strategic Investment Solutions Inc. IL lifted its stake in shares of 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. Anchor Investment Management LLC lifted its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 78 shares during the period. Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter worth approximately $29,000. Finally, HWG Holdings LP bought a new stake in shares of Palo Alto Networks in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Down 0.4%

Palo Alto Networks stock opened at $172.88 on Friday. The company has a 50 day moving average of $196.04 and a 200-day moving average of $187.20. The stock has a market capitalization of $115.28 billion, a PE ratio of 98.79, a price-to-earnings-growth ratio of 4.85 and a beta of 0.95. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $210.39.

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

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 600 shares of the business'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 of the company's stock, valued at $8,452,332. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $19,866,000.00. Following the sale, the executive vice president directly owned 3,243,516 shares in the company, valued at $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 569,248 shares of company stock valued at $111,279,829 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PANW shares. Morgan Stanley cut 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 report on Wednesday, April 16th. TD Securities reissued a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Hsbc Global Res raised shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price target on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Finally, DA Davidson dropped their price objective on shares of Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $209.61.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.