Palo Alto Networks, Inc. (NASDAQ:PANW) Position Lessened by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,710 shares of the network technology company's stock after selling 1,717 shares during the period. Mutual of America Capital Management LLC's holdings in Palo Alto Networks were worth $13,772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PANW. Rehmann Capital Advisory Group raised its position in shares of Palo Alto Networks by 106.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock worth $433,000 after purchasing an additional 1,226 shares during the period. GAMMA Investing LLC grew its stake in Palo Alto Networks by 10.8% in the first quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock valued at $2,410,000 after purchasing an additional 1,374 shares in the last quarter. Diligent Investors LLC raised its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Diligent Investors LLC now owns 3,430 shares of the network technology company's stock valued at $624,000 after acquiring an additional 1,715 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Palo Alto Networks by 8.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 137,663 shares of the network technology company's stock worth $23,491,000 after buying an additional 10,180 shares during the period. Finally, Shorepoint Capital Partners LLC grew its position in shares of Palo Alto Networks by 108.4% in the fourth quarter. Shorepoint Capital Partners LLC now owns 20,898 shares of the network technology company's stock valued at $3,803,000 after purchasing an additional 10,868 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Trading Up 2.2%

NASDAQ:PANW opened at $172.89 on Thursday. The stock has a market cap of $115.28 billion, a P/E ratio of 98.79, a PEG ratio of 4.01 and a beta of 0.94. The stock has a 50 day simple moving average of $195.06 and a 200 day simple moving average of $187.10. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $210.39.

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 EPS 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 firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the company earned $0.66 EPS. The company's revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the transaction, the executive vice president owned 264,246 shares in the company, valued at approximately $51,564,964.44. This trade represents a 31.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction on Friday, June 20th. The shares were sold at an average price of $201.05, for a total value of $160,840.00. Following the completion of the transaction, the chief accounting officer owned 42,033 shares in the company, valued at approximately $8,450,734.65. The trade was a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 669,248 shares of company stock worth $126,423,337. 2.50% of the stock is owned by company insiders.

Analyst Ratings Changes

PANW has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 target price for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price objective on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 21st. DA Davidson dropped their target price on Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research note on Thursday, July 31st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus price target of $209.61.

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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