Nvwm LLC Has $2.98 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Nvwm LLC reduced its stake in Palo Alto Networks by 15.1%, owning 17,461 shares worth approximately $2.98 million at the end of the last quarter.
• Institutional investors hold about 79.82% of Palo Alto Networks' stock, reflecting strong institutional interest in the cybersecurity firm.
• Wall Street analysts have mostly positive views on the stock, with a consensus price target of $209.42 and numerous analysts giving it a "buy" or "overweight" rating.

Nvwm LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,461 shares of the network technology company's stock after selling 3,102 shares during the quarter. Palo Alto Networks accounts for 0.8% of Nvwm LLC's portfolio, making the stock its 29th largest position. Nvwm LLC's holdings in Palo Alto Networks were worth $2,980,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Csenge Advisory Group increased its position in shares of Palo Alto Networks by 2.4% during 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 during the period. Strategic Investment Solutions Inc. IL increased 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 during the period. SYM FINANCIAL Corp increased its position in shares of Palo Alto Networks by 1.4% during the 1st quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company's stock valued at $691,000 after purchasing an additional 55 shares during the period. Crew Capital Management Ltd. increased its position in shares of Palo Alto Networks by 2.5% during 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 during the period. Finally, JDM Financial Group LLC increased its position in shares of Palo Alto Networks by 22.4% during 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 during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PANW. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 20th. JPMorgan Chase & Co. reduced their price objective on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Truist Financial reduced their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Stephens lowered Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have given a buy rating to the company. According to MarketBeat, Palo Alto Networks currently has an average rating of "Moderate Buy" and a consensus price target of $209.42.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $2.11 during trading on Friday, reaching $203.27. The company's stock had a trading volume of 3,457,359 shares, compared to its average volume of 4,288,193. The business's fifty day moving average price is $196.34 and its 200-day moving average price is $186.72. The firm has a market cap of $135.54 billion, a price-to-earnings ratio of 116.15, 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.

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

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the sale, the executive vice president directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks 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 sale, the executive vice president directly owned 235,482 shares in the company, valued at $47,298,914.52. The trade was a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 569,248 shares of company stock valued at $111,279,829 over the last quarter. Company insiders own 2.50% of the company's stock.

About Palo Alto Networks

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.