Sulzberger Capital Advisors Inc. Has $560,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sulzberger Capital Advisors Inc. reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 33.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,284 shares of the network technology company's stock after selling 1,656 shares during the period. Palo Alto Networks comprises 0.7% of Sulzberger Capital Advisors Inc.'s investment portfolio, making the stock its 24th largest holding. Sulzberger Capital Advisors Inc.'s holdings in Palo Alto Networks were worth $560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 buying an additional 31,281,359 shares during the period. Geode Capital Management LLC raised its position in shares of Palo Alto Networks by 87.8% during the fourth 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 last quarter. Capital Research Global Investors boosted its holdings in Palo Alto Networks by 83.8% in the fourth 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 acquiring an additional 3,841,359 shares during the last quarter. Northern Trust Corp increased its position in 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 valued at $1,427,048,000 after purchasing an additional 4,486,654 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Palo Alto Networks by 17.6% during the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company's stock valued at $1,324,387,000 after purchasing an additional 1,088,631 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Stock Up 1.3%

Shares of NASDAQ:PANW opened at $199.60 on Friday. The firm has a market capitalization of $133.09 billion, a PE ratio of 112.45, a P/E/G ratio of 5.64 and a beta of 0.97. The company has a 50-day moving average price of $180.48 and a two-hundred day moving average price of $185.09. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the prior year, the company posted $0.66 EPS. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 317,571 shares of the company's stock, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the sale, the executive vice president now owns 264,246 shares in the company, valued at approximately $51,564,964.44. This represents a 31.37% 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 worth $139,837,528 over the last 90 days. Corporate insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PANW. Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. Cantor Fitzgerald restated an "overweight" rating and set a $223.00 target price on shares of Palo Alto Networks in a research report on Monday, May 19th. JMP Securities lifted their target price on Palo Alto Networks from $208.00 to $212.00 and gave the stock a "market outperform" rating in a report on Friday, February 14th. Jefferies Financial Group increased their price target on Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Susquehanna lifted their price objective on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Palo Alto Networks 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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