Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Lowered by InTrack Investment Management Inc

InTrack Investment Management Inc reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,303 shares of the network technology company's stock after selling 5,271 shares during the quarter. Palo Alto Networks comprises about 3.9% of InTrack Investment Management Inc's portfolio, making the stock its 4th biggest position. InTrack Investment Management Inc's holdings in Palo Alto Networks were worth $4,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PANW. Brighton Jones LLC boosted its stake in Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock valued at $1,230,000 after acquiring an additional 4,031 shares during the last quarter. Angeles Wealth Management LLC boosted its stake in Palo Alto Networks by 105.0% in the fourth quarter. Angeles Wealth Management LLC now owns 2,382 shares of the network technology company's stock valued at $433,000 after acquiring an additional 1,220 shares during the last quarter. Savant Capital LLC boosted its stake in Palo Alto Networks by 88.1% in the fourth quarter. Savant Capital LLC now owns 12,761 shares of the network technology company's stock valued at $2,322,000 after acquiring an additional 5,978 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Palo Alto Networks in the fourth quarter valued at approximately $101,000. Finally, Opal Wealth Advisors LLC boosted its stake in Palo Alto Networks by 117.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,334 shares of the network technology company's stock valued at $243,000 after acquiring an additional 721 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Susquehanna increased their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the stock a "positive" rating in a report on Tuesday, February 18th. Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Jefferies Financial Group increased their target price on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, May 16th. TD Securities reiterated a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Northland Securities dropped 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 report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company's stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Insider Activity

In other news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the completion of the transaction, the chief executive officer now owns 317,571 shares of the company's stock, valued at $54,854,038.83. This trade represents a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock worth $139,837,528 over the last quarter. Insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 1.7%

NASDAQ PANW traded up $3.28 on Thursday, hitting $197.67. 4,157,094 shares of the company were exchanged, compared to its average volume of 5,491,260. The company has a market cap of $131.81 billion, a PE ratio of 111.36, a PEG ratio of 5.64 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 stock has a fifty day moving average of $183.28 and a 200-day moving average of $185.12.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released 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. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. 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 prior year, the company posted $0.66 earnings per share. The business's revenue was up 15.3% on a year-over-year basis. On average, analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.