Klingenstein Fields & Co. LP Reduces Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Klingenstein Fields & Co. LP trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 464,151 shares of the network technology company's stock after selling 4,473 shares during the quarter. Palo Alto Networks accounts for about 3.4% of Klingenstein Fields & Co. LP's portfolio, making the stock its 6th largest position. Klingenstein Fields & Co. LP owned 0.07% of Palo Alto Networks worth $79,203,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PANW. Brighton Jones LLC lifted its position in shares of Palo Alto Networks by 147.7% during the 4th 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 period. Bank Pictet & Cie Europe AG lifted its position in shares of Palo Alto Networks by 115.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock valued at $8,004,000 after acquiring an additional 23,586 shares during the period. Fisher Asset Management LLC lifted its position in shares of Palo Alto Networks by 77.2% during the 4th quarter. Fisher Asset Management LLC now owns 4,593 shares of the network technology company's stock valued at $836,000 after acquiring an additional 2,001 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Palo Alto Networks by 193.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,329 shares of the network technology company's stock valued at $797,000 after acquiring an additional 2,854 shares during the period. Finally, SRS Capital Advisors Inc. lifted its position in shares of Palo Alto Networks by 312.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 916 shares of the network technology company's stock valued at $167,000 after acquiring an additional 694 shares during the period. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction 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 transaction, the executive vice president directly owned 101,135 shares of the company's stock, valued at $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the sale, the executive vice president owned 321,774 shares in the company, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 568,122 shares of company stock valued at $101,726,398. 2.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PANW has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a report on Monday, May 19th. Jefferies Financial Group upped their price objective 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. Guggenheim restated a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, KeyCorp restated an "overweight" rating and set a $220.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Price Performance

NASDAQ:PANW traded up $4.60 on Thursday, reaching $201.57. 1,746,909 shares of the company's stock were exchanged, compared to its average volume of 5,382,406. The firm has a market cap of $134.40 billion, a price-to-earnings ratio of 115.30, a P/E/G ratio of 5.52 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The stock has a fifty day simple moving average of $192.85 and a 200-day simple moving average of $185.45.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The company's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Company 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.