Xponance Inc. Acquires 2,762 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Xponance Inc. grew its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,035 shares of the network technology company's stock after buying an additional 2,762 shares during the period. Xponance Inc.'s holdings in Palo Alto Networks were worth $26,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PANW. Brighton Jones LLC raised its holdings in shares of Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock valued at $1,230,000 after buying an additional 4,031 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Palo Alto Networks by 115.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock valued at $8,004,000 after acquiring an additional 23,586 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Palo Alto Networks by 215.8% during the fourth quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company's stock valued at $440,000 after acquiring an additional 1,651 shares during the period. AlphaQuest LLC increased its stake in shares of Palo Alto Networks by 8.5% during the fourth quarter. AlphaQuest LLC now owns 2,828 shares of the network technology company's stock valued at $515,000 after acquiring an additional 221 shares during the period. Finally, Moors & Cabot Inc. increased its stake in shares of Palo Alto Networks by 108.7% during the fourth quarter. Moors & Cabot Inc. now owns 15,788 shares of the network technology company's stock valued at $2,873,000 after acquiring an additional 8,223 shares during the period. Institutional investors own 79.82% of the company's stock.

Palo Alto Networks Stock Up 1.8%

PANW stock traded up $3.33 during mid-day trading on Monday, reaching $190.72. 5,044,685 shares of the stock traded hands, compared to its average volume of 5,418,049. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The business has a 50-day moving average of $195.04 and a two-hundred day moving average of $185.73. The firm has a market capitalization of $127.17 billion, a PE ratio of 108.98, a P/E/G ratio of 5.23 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The business's quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aparna Bawa sold 526 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the sale, the director owned 8,632 shares of the company's stock, valued at approximately $1,640,080. The trade was a 5.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 569,248 shares of company stock valued at $111,279,829. 2.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PANW has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Stephens lowered shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. HSBC upgraded shares of Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a research note on Thursday, April 10th. 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. Finally, Truist Financial dropped their price target on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Two 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. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

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.