Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by LGT Group Foundation

Key Points

• The LGT Group Foundation significantly reduced its stake in Palo Alto Networks, selling 116,479 shares, which represents a 45.4% decrease in ownership.
• Analysts have varying views on Palo Alto Networks, with a consensus target price of $217.07 and a rating of "Moderate Buy".
• Insider transactions included an executive selling 5,000 shares worth over $1 million, contributing to a total of 669,248 shares sold by insiders in the last three months.

LGT Group Foundation lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 45.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,304 shares of the network technology company's stock after selling 116,479 shares during the quarter. LGT Group Foundation's holdings in Palo Alto Networks were worth $23,941,000 at the end of the most recent reporting period.

Several other institutional investors have also 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 worth $1,230,000 after buying an additional 4,031 shares during the last quarter. 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 worth $8,004,000 after buying an additional 23,586 shares during the last quarter. Martingale Asset Management L P purchased a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $236,000. Sagespring Wealth Partners LLC purchased a new stake in Palo Alto Networks in the 4th quarter valued at $970,000. Finally, Granite Investment Partners LLC raised its position in Palo Alto Networks by 100.0% in the 4th quarter. Granite Investment Partners LLC now owns 3,816 shares of the network technology company's stock valued at $694,000 after purchasing an additional 1,908 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PANW shares. Morgan Stanley set a $496.00 price objective on shares of Palo Alto Networks in a research report on Thursday. Jefferies Financial Group set a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of 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. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company raised their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Two investment 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $217.07.

Insider Transactions at Palo Alto Networks

In related news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the transaction, the executive vice president owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. This trade represents a 4.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Aparna Bawa sold 526 shares of Palo Alto Networks stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $190.00, for a total value of $99,940.00. Following the completion of the transaction, the director directly owned 8,632 shares in the company, valued at $1,640,080. This represents a 5.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 669,248 shares of company stock worth $126,423,337 in the last three months. Insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 0.7%

Shares of Palo Alto Networks stock opened at $168.17 on Tuesday. The company's 50-day moving average price is $193.70 and its two-hundred day moving average price is $186.78. Palo Alto Networks, Inc. has a 52 week low of $144.15 and a 52 week high of $210.39. The stock has a market cap of $112.14 billion, a PE ratio of 96.10, a price-to-earnings-growth ratio of 3.96 and a beta of 0.94.

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

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