Vontobel Holding Ltd. Trims Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Vontobel Holding Ltd. cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 210,427 shares of the network technology company's stock after selling 19,066 shares during the quarter. Vontobel Holding Ltd.'s holdings in Palo Alto Networks were worth $35,907,000 as of its most recent SEC filing.

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

Palo Alto Networks Price Performance

PANW stock traded up $5.53 during midday trading on Thursday, reaching $202.50. 1,384,115 shares of the company's stock traded hands, compared to its average volume of 5,380,959. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The business has a 50-day moving average price of $192.85 and a two-hundred day moving average price of $185.45. The company has a market capitalization of $135.02 billion, a P/E ratio of 115.81, a PEG ratio of 5.52 and a beta of 0.97.

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 EPS for the quarter, topping 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 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 firm posted $0.66 earnings per share. The firm's quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the transaction, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. The trade was a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 800 shares of the company's stock in a transaction dated 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 directly owned 42,033 shares of the company's stock, valued at approximately $8,450,734.65. The trade was a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 568,122 shares of company stock worth $101,726,398 over the last three months. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Jefferies Financial Group increased their target price on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a report on Friday, May 16th. TD Securities restated a "buy" rating and issued a $230.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Truist Financial reduced their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.