Quintet Private Bank Europe S.A. Trims Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Quintet Private Bank Europe S.A. trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 223,861 shares of the network technology company's stock after selling 7,050 shares during the period. Palo Alto Networks makes up about 2.2% of Quintet Private Bank Europe S.A.'s portfolio, making the stock its 9th largest holding. Quintet Private Bank Europe S.A.'s holdings in Palo Alto Networks were worth $38,200,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL raised its position in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after buying an additional 55 shares during the last quarter. JDM Financial Group LLC raised its position in shares of Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after buying an additional 59 shares during the last quarter. Snider Financial Group raised its position in shares of Palo Alto Networks by 0.4% during the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company's stock valued at $3,025,000 after buying an additional 65 shares during the last quarter. Rakuten Securities Inc. raised its position in shares of Palo Alto Networks by 8.4% during the fourth quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock valued at $165,000 after buying an additional 70 shares during the last quarter. Finally, Quarry LP raised its position in shares of Palo Alto Networks by 16.9% during the fourth quarter. Quarry LP now owns 511 shares of the network technology company's stock valued at $93,000 after buying an additional 74 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Trading Down 0.7%

Shares of Palo Alto Networks stock traded down $1.40 during midday trading on Friday, reaching $196.27. The company had a trading volume of 3,815,861 shares, compared to its average volume of 5,482,749. The company has a market capitalization of $130.87 billion, a price-to-earnings ratio of 110.58, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. The stock has a fifty day simple moving average of $183.28 and a 200 day simple moving average of $185.12. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. Palo Alto Networks's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. Sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, 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 now owns 321,774 shares of the company's stock, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the sale, the chief executive officer now directly owns 317,571 shares of the company's stock, valued at $54,854,038.83. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock valued at $139,837,528 over the last quarter. Corporate insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PANW. TD Securities reaffirmed a "buy" rating and set a $230.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Morgan Stanley cut their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Guggenheim reissued a "sell" rating and issued a $130.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target for the company in a research report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus target price of $208.00.

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.