Neo Ivy Capital Management Acquires New Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Neo Ivy Capital Management has acquired a new position in Palo Alto Networks by purchasing 1,526 shares worth approximately $260,000.
• Palo Alto Networks reported quarterly earnings of $0.80 per share, surpassing analysts' expectations, with a revenue increase of 15.3% compared to the previous year.
• Institutional investors currently own 79.82% of Palo Alto Networks' stock, reflecting strong interest from major financial players.

Neo Ivy Capital Management bought a new position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,526 shares of the network technology company's stock, valued at approximately $260,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL raised its holdings 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 acquiring an additional 55 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in 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 valued at $28,000 after purchasing an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. boosted its position in Palo Alto Networks by 100.0% during the fourth 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 acquired a new position in Palo Alto Networks in the fourth quarter valued at $29,000. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Trading Up 1.0%

Shares of PANW stock opened at $203.27 on Friday. The firm has a market capitalization of $135.54 billion, a P/E ratio of 116.15, a price-to-earnings-growth ratio of 5.67 and a beta of 0.97. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The firm's fifty day simple moving average is $196.34 and its 200 day simple moving average is $186.81.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TD Securities reiterated a "buy" rating and issued a $230.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, 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 note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and an average price target of $209.42.

Insiders Place Their Bets

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total value of $19,866,000.00. Following the completion of the transaction, the executive vice president owned 3,243,516 shares of the company's stock, valued at $644,356,888.56. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the sale, the executive vice president directly owned 101,135 shares in the company, valued at $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 569,248 shares of company stock valued at $111,279,829 in the last ninety days. 2.50% of the stock is currently owned by insiders.

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.

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