World Equity Group Inc. Decreases Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

World Equity Group Inc. cut its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 37.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,153 shares of the network technology company's stock after selling 1,877 shares during the period. World Equity Group Inc.'s holdings in Palo Alto Networks were worth $547,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PANW. Transce3nd LLC purchased a new stake in Palo Alto Networks during the fourth quarter valued at $25,000. Strategic Investment Solutions Inc. IL grew 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 valued at $26,000 after purchasing an additional 55 shares during the period. Kiely Wealth Advisory Group Inc. grew its stake 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 during the period. Capital Advisors Ltd. LLC increased its position in shares of Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PANW has been the subject of a number of research reports. TD Securities reaffirmed a "buy" rating and set a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Hsbc Global Res upgraded Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. Jefferies Financial Group lifted their target price on Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Barclays cut their price target on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Finally, Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average target price of $208.00.

Insider Activity

In related news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president now owns 264,246 shares in the company, valued at $51,564,964.44. The trade was a 31.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $193.36, for a total value of $19,336,000.00. Following the sale, the executive vice president now owns 3,343,516 shares of the company's stock, valued at approximately $646,502,253.76. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 789,736 shares of company stock valued at $139,837,528. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $199.24 on Friday. The business's 50 day moving average price is $187.43 and its 200-day moving average price is $185.20. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The company has a market cap of $132.85 billion, a P/E ratio of 113.85, a P/E/G ratio of 5.56 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business's revenue for the quarter was up 15.3% on a year-over-year basis. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current 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.

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