Lbp Am Sa Sells 10,053 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

LBP AM SA decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 212,581 shares of the network technology company's stock after selling 10,053 shares during the period. LBP AM SA's holdings in Palo Alto Networks were worth $36,275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL lifted its position in shares of 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 worth $26,000 after purchasing an additional 55 shares in the last quarter. Kiely Wealth Advisory Group Inc. lifted its position in shares of Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after purchasing an additional 75 shares in the last quarter. Anchor Investment Management LLC lifted its position 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 purchasing an additional 78 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter worth approximately $29,000. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Trading Up 1.0%

Shares of Palo Alto Networks stock traded up $2.07 during trading on Wednesday, reaching $206.06. The company's stock had a trading volume of 3,085,020 shares, compared to its average volume of 5,376,965. The stock has a market capitalization of $137.40 billion, a P/E ratio of 117.75, a price-to-earnings-growth ratio of 5.62 and a beta of 0.97. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The stock has a 50-day moving average price of $194.55 and a two-hundred day moving average price of $185.62.

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 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Aparna Bawa sold 526 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $190.00, for a total value of $99,940.00. Following the sale, the director owned 8,632 shares in the company, valued at approximately $1,640,080. This represents a 5.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the company's 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 completion of the transaction, the executive vice president directly owned 3,343,516 shares in the company, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 669,248 shares of company stock worth $127,820,829 in the last three months. 2.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PANW. Morgan Stanley cut their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company raised their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Guggenheim reaffirmed a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Northland Securities cut their price objective on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 21st. Finally, TD Securities reaffirmed a "buy" rating and set a $230.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

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.