Sava Infond d.o.o. Has $11.40 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sava Infond d.o.o. trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 66,830 shares of the network technology company's stock after selling 4,100 shares during the period. Palo Alto Networks makes up about 2.2% of Sava Infond d.o.o.'s investment portfolio, making the stock its 12th biggest position. Sava Infond d.o.o.'s holdings in Palo Alto Networks were worth $11,404,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PANW. Vanguard Group Inc. lifted its holdings in shares of Palo Alto Networks by 104.4% during the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock worth $11,142,122,000 after acquiring an additional 31,281,359 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after acquiring an additional 6,725,148 shares during the period. Norges Bank bought a new position in shares of Palo Alto Networks during the 4th quarter worth about $970,736,000. Northern Trust Corp lifted its holdings in shares of Palo Alto Networks by 133.7% during the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock worth $1,427,048,000 after acquiring an additional 4,486,654 shares during the period. Finally, Capital Research Global Investors lifted its holdings in Palo Alto Networks by 83.8% during the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock valued at $1,533,419,000 after purchasing an additional 3,841,359 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial cut their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. Roth Capital assumed coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target for the company. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an "outperform" rating in a report on Wednesday, May 21st. Guggenheim reissued a "sell" rating and set a $130.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Rosenblatt Securities reissued a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 800 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $201.05, for a total transaction of $160,840.00. Following the completion of the transaction, the chief accounting officer now owns 42,033 shares in the company, valued at approximately $8,450,734.65. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 101,135 shares of the company's stock, valued at $20,414,099.75. This trade represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 795,536 shares of company stock worth $141,007,618. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Down 0.9%

NASDAQ PANW traded down $1.77 during trading on Friday, reaching $200.57. 5,339,865 shares of the stock traded hands, compared to its average volume of 5,407,639. The firm has a market cap of $133.74 billion, a price-to-earnings ratio of 114.61, a price-to-earnings-growth ratio of 5.65 and a beta of 0.97. The stock's 50-day moving average price is $190.70 and its 200 day moving average price is $185.42. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion during 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%. The business's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. Analysts anticipate 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.