Schonfeld Strategic Advisors LLC Trims Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Schonfeld Strategic Advisors LLC decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 68.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,504 shares of the network technology company's stock after selling 14,231 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Palo Alto Networks were worth $1,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in PANW. Vanguard Group Inc. increased its position in shares of Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company's stock valued at $11,142,122,000 after buying an additional 31,281,359 shares during the period. Geode Capital Management LLC grew its holdings in shares of Palo Alto Networks by 87.8% during the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company's stock worth $2,611,013,000 after acquiring an additional 6,725,148 shares during the period. Capital Research Global Investors raised its position in shares of Palo Alto Networks by 83.8% in the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company's stock worth $1,533,419,000 after acquiring an additional 3,841,359 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Palo Alto Networks by 133.7% in the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company's stock valued at $1,427,048,000 after purchasing an additional 4,486,654 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Palo Alto Networks by 83.0% during the fourth quarter. Jennison Associates LLC now owns 5,759,689 shares of the network technology company's stock valued at $1,048,033,000 after purchasing an additional 2,612,474 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. This represents a 41.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the completion of the transaction, the executive vice president now owns 293,010 shares in the company, valued at $55,458,002.70. The trade was a 29.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 568,962 shares of company stock worth $96,933,690. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $188.23 on Thursday. The stock has a market capitalization of $124.63 billion, a PE ratio of 106.05, a P/E/G ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The company's fifty day simple moving average is $175.92 and its 200-day simple moving average is $184.73.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup increased their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, February 25th. Morgan Stanley lowered their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Scotiabank upped their price objective on shares of Palo Alto Networks from $200.00 to $225.00 and gave the stock a "sector outperform" rating in a report on Tuesday, January 21st. BTIG Research lowered shares of Palo Alto Networks from a "buy" rating to a "neutral" rating in a report on Wednesday, January 8th. Finally, Truist Financial cut their price target on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $203.06.

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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