Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. lessened its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 26.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,464 shares of the network technology company's stock after selling 3,028 shares during the period. EFG Asset Management North America Corp.'s holdings in Palo Alto Networks were worth $2,495,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Palo Alto Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company's stock worth $6,215,410,000 after acquiring an additional 304,272 shares during the period. Northern Trust Corp increased its holdings in shares of Palo Alto Networks by 2.6% in the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company's stock worth $804,199,000 after acquiring an additional 86,995 shares during the period. Jennison Associates LLC increased its holdings in shares of Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company's stock worth $771,643,000 after acquiring an additional 1,187,915 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company's stock worth $606,854,000 after acquiring an additional 2,050,917 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Palo Alto Networks by 5.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,746,971 shares of the network technology company's stock valued at $515,147,000 after buying an additional 84,151 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Rosenblatt Securities lowered shares of Palo Alto Networks from a "buy" rating to a "neutral" rating and decreased their target price for the company from $290.00 to $265.00 in a research report on Wednesday, February 21st. Redburn Atlantic increased their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a "buy" rating in a research report on Tuesday, March 19th. Northland Securities lowered shares of Palo Alto Networks from an "outperform" rating to a "market perform" rating and set a $275.00 target price for the company. in a research report on Wednesday, February 21st. Piper Sandler lowered shares of Palo Alto Networks from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $350.00 to $300.00 in a research report on Wednesday, February 21st. Finally, Susquehanna decreased their target price on shares of Palo Alto Networks from $400.00 to $325.00 and set a "positive" rating for the company in a research report on Monday, February 26th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and an average target price of $316.85.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 121,276 shares of the business's stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60. Following the transaction, the executive vice president now owns 166,542 shares of the company's stock, valued at $49,895,983.20. The disclosure for this sale can be found here. Insiders sold a total of 280,193 shares of company stock worth $80,670,132 over the last three months. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Up 0.3 %

Shares of Palo Alto Networks stock traded up $1.07 during trading on Friday, reaching $317.85. The company's stock had a trading volume of 3,418,327 shares, compared to its average volume of 5,068,114. The stock has a 50-day moving average price of $286.63 and a two-hundred day moving average price of $296.70. Palo Alto Networks, Inc. has a one year low of $186.75 and a one year high of $380.84. The stock has a market capitalization of $102.70 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 4.24 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

About Palo Alto Networks

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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