Jackson Square Capital LLC Trims Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Jackson Square Capital LLC cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 92.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,264 shares of the network technology company's stock after selling 29,336 shares during the quarter. Jackson Square Capital LLC's holdings in Palo Alto Networks were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PANW. Transce3nd LLC purchased a new position in shares of Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL increased its position in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after purchasing an additional 55 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Anchor Investment Management LLC lifted its position 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 purchasing an additional 78 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the transaction, the executive vice president now owns 264,246 shares of the company's stock, valued at $51,564,964.44. The trade was a 31.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the sale, the executive vice president now owns 3,343,516 shares of the company's stock, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 789,736 shares of company stock valued at $139,837,528. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

NASDAQ PANW traded up $3.94 during trading on Tuesday, hitting $202.05. The stock had a trading volume of 4,122,502 shares, compared to its average volume of 5,474,030. The stock has a 50 day simple moving average of $185.07 and a 200 day simple moving average of $185.04. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The stock has a market capitalization of $134.73 billion, a price-to-earnings ratio of 113.83, a P/E/G ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results 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 14.64% and a return on equity of 21.93%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Stephens cut Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. JPMorgan Chase & Co. reduced their price target on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 20th. Finally, KeyCorp restated an "overweight" rating and set a $220.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

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.