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Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Raiffeisen Bank International AG

Palo Alto Networks logo with Computer and Technology background

Key Points

  • Raiffeisen Bank International AG has reduced its stake in Palo Alto Networks by 5.0%, selling 14,849 shares, and now owns 280,751 shares valued at approximately $48.5 million.
  • Analysts have mixed views on Palo Alto Networks with ratings ranging from "strong-buy" to "hold", and the current consensus target price set at $209.61.
  • Insider trading is notable as over the past three months, insiders have sold 569,248 shares of the company, reflecting significant activity among management members.
  • Five stocks to consider instead of Palo Alto Networks.

Raiffeisen Bank International AG cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 280,751 shares of the network technology company's stock after selling 14,849 shares during the period. Raiffeisen Bank International AG's holdings in Palo Alto Networks were worth $48,503,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in 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 acquiring an additional 4,031 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in 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 acquiring an additional 23,586 shares during the last quarter. Cynosure Group LLC grew its position in Palo Alto Networks by 32.6% during the 4th quarter. Cynosure Group LLC now owns 1,488 shares of the network technology company's stock worth $271,000 after acquiring an additional 366 shares during the last quarter. World Investment Advisors grew its position in Palo Alto Networks by 131.0% during the 4th quarter. World Investment Advisors now owns 19,703 shares of the network technology company's stock worth $3,585,000 after acquiring an additional 11,175 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its position in Palo Alto Networks by 87.0% during the 4th quarter. Thoroughbred Financial Services LLC now owns 8,536 shares of the network technology company's stock worth $1,553,000 after acquiring an additional 3,971 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PANW has been the topic of several research reports. Guggenheim reaffirmed a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. DA Davidson cut their price target on Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Thursday. Wells Fargo & Company increased their price target on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Morgan Stanley cut their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Northland Securities cut their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $209.61.

Read Our Latest Stock Report on PANW

Palo Alto Networks Trading Down 1.1%

Shares of NASDAQ:PANW traded down $1.88 during trading on Monday, reaching $171.00. The stock had a trading volume of 11,170,850 shares, compared to its average volume of 8,542,559. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $210.39. The company has a market capitalization of $114.02 billion, a P/E ratio of 97.71, a PEG ratio of 4.11 and a beta of 0.94. The firm's 50-day simple moving average is $196.04 and its 200 day simple moving average is $187.36.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released 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. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same period last year, the business earned $0.66 EPS. The company's revenue was up 15.3% compared to the same quarter last year. Equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $200.86, for a total value of $24,258,665.64. Following the sale, the executive vice president directly owned 235,482 shares in the company, valued at approximately $47,298,914.52. This trade represents a 33.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the sale, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 448,474 shares of company stock worth $88,420,934. Insiders own 2.50% of the company's stock.

Palo Alto Networks Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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