TCW Group Inc. Sells 8,731 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• TCW Group Inc. has reduced its stake in Palo Alto Networks by 0.9%, owning a total of 999,418 shares after selling 8,731 shares during the first quarter.
• Palo Alto Networks reported an earnings per share (EPS) of $0.80 for the last quarter, surpassing analysts' expectations of $0.77, with a year-over-year revenue increase of 15.3% to $2.29 billion.
• Analysts remain optimistic, with a consensus rating of "Moderate Buy" and an average price target of $209.42 for Palo Alto Networks stock.

TCW Group Inc. cut its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 999,418 shares of the network technology company's stock after selling 8,731 shares during the period. Palo Alto Networks accounts for about 1.5% of TCW Group Inc.'s investment portfolio, making the stock its 14th biggest position. TCW Group Inc. owned 0.15% of Palo Alto Networks worth $170,541,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Transce3nd LLC acquired a new position in Palo Alto Networks during the 4th quarter valued at about $25,000. Strategic Investment Solutions Inc. IL raised its stake in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares during the period. Kiely Wealth Advisory Group Inc. lifted its holdings in shares of Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after purchasing an additional 75 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after buying an additional 78 shares during the period. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $29,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $203.27 on Friday. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The stock's 50-day moving average is $196.34 and its 200 day moving average is $186.81. The firm has a market cap of $135.54 billion, a price-to-earnings ratio of 116.15, a PEG ratio of 5.67 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its 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 return on equity of 19.48% and a net margin of 13.95%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm's revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on PANW shares. JPMorgan Chase & Co. cut their price objective on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. KeyCorp restated an "overweight" rating and issued a $220.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Wells Fargo & Company boosted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Rosenblatt Securities restated a "buy" rating and issued a $235.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Finally, Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $209.42.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the company'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 completion of the sale, the executive vice president directly owned 235,482 shares of the company's stock, valued at approximately $47,298,914.52. This represents a 33.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total value of $19,866,000.00. Following the sale, the executive vice president directly owned 3,243,516 shares of the company's stock, valued at $644,356,888.56. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock worth $111,279,829 over the last ninety days. Insiders own 2.50% of the company's stock.

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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