Morse Asset Management Inc Has $5.31 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Morse Asset Management Inc lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 19.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,087 shares of the network technology company's stock after selling 7,735 shares during the quarter. Palo Alto Networks comprises about 1.3% of Morse Asset Management Inc's holdings, making the stock its 23rd largest position. Morse Asset Management Inc's holdings in Palo Alto Networks were worth $5,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PANW. Csenge Advisory Group raised its stake in shares of Palo Alto Networks by 2.4% in the 1st quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company's stock valued at $381,000 after purchasing an additional 53 shares in the last quarter. Strategic Investment Solutions Inc. IL raised 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 valued at $26,000 after purchasing an additional 55 shares in the last quarter. Crew Capital Management Ltd. raised its stake in shares of Palo Alto Networks by 2.5% in the 1st quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock valued at $394,000 after purchasing an additional 57 shares in the last quarter. JDM Financial Group LLC raised its stake in shares of Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after purchasing an additional 59 shares in the last quarter. Finally, Sage Mountain Advisors LLC raised its stake in shares of Palo Alto Networks by 1.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 3,931 shares of the network technology company's stock valued at $671,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $200.86, for a total value of $24,258,665.64. Following the completion of the sale, the executive vice president owned 235,482 shares in the company, valued at $47,298,914.52. This represents a 33.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the 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 transaction, the executive vice president owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 569,248 shares of company stock worth $111,279,829. Insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Securities restated a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price on the stock in a research note on Thursday, April 10th. Truist Financial lowered their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Finally, Stephens downgraded shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.16.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded down $0.50 during mid-day trading on Friday, hitting $195.78. The stock had a trading volume of 2,977,409 shares, compared to its average volume of 5,399,551. The company has a market cap of $130.55 billion, a PE ratio of 111.87, a P/E/G ratio of 5.47 and a beta of 0.97. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The company's 50 day moving average is $195.58 and its 200-day moving average is $186.06.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued 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 net margin of 13.95% and a return on equity of 19.48%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The firm's quarterly revenue was up 15.3% on a year-over-year basis. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.