Walter Public Investments Inc. Has $2.88 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Walter Public Investments Inc. cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 57.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,898 shares of the network technology company's stock after selling 22,794 shares during the quarter. Walter Public Investments Inc.'s holdings in Palo Alto Networks were worth $2,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Investment Partners LTD. bought a new stake in Palo Alto Networks in the first quarter worth $280,000. Highview Capital Management LLC DE boosted its holdings in Palo Alto Networks by 2.5% in the first quarter. Highview Capital Management LLC DE now owns 6,586 shares of the network technology company's stock worth $1,124,000 after purchasing an additional 160 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Palo Alto Networks by 13.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,653 shares of the network technology company's stock valued at $8,473,000 after acquiring an additional 5,774 shares during the period. Horst & Graben Wealth Management LLC bought a new stake in Palo Alto Networks during the first quarter valued at about $253,000. Finally, Alpha Cubed Investments LLC boosted its holdings in Palo Alto Networks by 2.7% during the first quarter. Alpha Cubed Investments LLC now owns 480,092 shares of the network technology company's stock valued at $81,923,000 after acquiring an additional 12,628 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. TD Securities restated a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Morgan Stanley dropped their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. HSBC raised shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective for the company in a report on Thursday, April 10th. Finally, Barclays lowered their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 600 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total transaction of $122,400.00. Following the transaction, the chief accounting officer directly owned 41,433 shares in the company, valued at $8,452,332. The trade was a 1.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the transaction, the executive vice president owned 264,246 shares in the company, valued at $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 547,948 shares of company stock valued at $103,462,223 over the last quarter. 2.50% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 1.3%

PANW traded up $2.57 during trading on Tuesday, hitting $203.99. The company had a trading volume of 3,409,521 shares, compared to its average volume of 5,387,987. The company has a market capitalization of $136.02 billion, a PE ratio of 116.57, a PEG ratio of 5.63 and a beta of 0.97. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The firm's 50-day moving average price is $194.20 and its 200 day moving average price is $185.49.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The business had revenue of $2.29 billion for 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 firm's revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Palo Alto Networks 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.