Mediolanum International Funds Ltd Reduces Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Mediolanum International Funds Ltd has reduced its holdings in Palo Alto Networks by **43.9%**, selling **15,463 shares** during the first quarter, leaving it with **19,783 shares** valued at approximately **$3.4 million**.
• During the fourth quarter, several institutional investors increased their stakes in Palo Alto Networks, contributing to **79.82%** of the stock being owned by hedge funds and other institutional investors.
• Palo Alto Networks recently reported **$0.80 earnings per share**, exceeding analyst expectations, with revenues of **$2.29 billion**, marking a **15.3% year-over-year growth**.

Mediolanum International Funds Ltd lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 43.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,783 shares of the network technology company's stock after selling 15,463 shares during the quarter. Mediolanum International Funds Ltd's holdings in Palo Alto Networks were worth $3,418,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Transce3nd LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL grew its position in shares of 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 in the last quarter. Anchor Investment Management LLC lifted its holdings in shares of Palo Alto Networks by 100.0% during 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 last quarter. Kiely Wealth Advisory Group Inc. lifted its holdings in shares of Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after acquiring an additional 75 shares during the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Palo Alto Networks in the fourth quarter worth $29,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

NASDAQ PANW traded down $7.14 during trading on Thursday, reaching $175.89. 16,838,989 shares of the company's stock traded hands, compared to its average volume of 5,732,011. The company's 50 day simple moving average is $196.57 and its two-hundred day simple moving average is $187.15. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $210.39. The firm has a market cap of $117.28 billion, a price-to-earnings ratio of 100.46, a price-to-earnings-growth ratio of 5.41 and a beta of 0.97.

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

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the sale, the executive vice president owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. The trade was a 4.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $200.86, for a total transaction of $24,258,665.64. Following the sale, the executive vice president directly owned 235,482 shares in the company, valued at approximately $47,298,914.52. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock worth $111,279,829 in the last 90 days. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research report on Monday, May 19th. TD Securities reiterated a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Wells Fargo & Company increased their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Northland Securities reduced their price objective on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research note on Wednesday, May 21st. Finally, Barclays cut their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average 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.