Rheos Capital Works Inc. Has $13.69 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Rheos Capital Works Inc. reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 25.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,200 shares of the network technology company's stock after selling 28,000 shares during the period. Rheos Capital Works Inc.'s holdings in Palo Alto Networks were worth $13,685,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PANW. Transce3nd LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL lifted 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 worth $26,000 after acquiring an additional 55 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its position in shares of Palo Alto Networks by 265.0% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after buying an additional 106 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its stake in Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Up 1.3%

Shares of Palo Alto Networks stock opened at $199.60 on Monday. The business's fifty day moving average price is $180.48 and its 200 day moving average price is $184.92. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The stock has a market capitalization of $133.09 billion, a P/E ratio of 112.45, a PEG ratio of 5.64 and a beta of 0.97.

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 return on equity of 21.93% and a net margin of 14.64%. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the transaction, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 789,736 shares of company stock valued at $139,837,528 over the last 90 days. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PANW shares. Citigroup boosted their target price on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. KeyCorp restated an "overweight" rating and set a $220.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Roth Capital assumed coverage on Palo Alto Networks in a research note on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price on the stock. Westpark Capital reiterated a "hold" rating and set a $196.40 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, 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. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $208.00.

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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