Lbp Am Sa Cuts Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Lbp Am Sa lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,581 shares of the network technology company’s stock after selling 10,053 shares during the quarter. Lbp Am Sa’s holdings in Palo Alto Networks were worth $36,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transce3nd LLC bought a new position in shares of Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL raised its holdings in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Kiely Wealth Advisory Group Inc. raised its holdings in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after purchasing an additional 75 shares in the last quarter. Anchor Investment Management LLC grew its stake in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after acquiring an additional 78 shares during the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Palo Alto Networks in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 1.3%

PANW opened at $203.99 on Wednesday. The firm has a market cap of $136.02 billion, a price-to-earnings ratio of 116.57, a PEG ratio of 5.62 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The stock has a fifty day moving average price of $194.55 and a 200-day moving average price of $185.62.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley dropped their price objective on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Northland Securities dropped their price objective on Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 21st. HSBC raised Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective on the stock in a research report on Thursday, April 10th. Stephens cut Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, Barclays dropped their target price on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. Two 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 an average price target of $208.00.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the transaction, the executive vice president directly owned 293,010 shares of the company’s stock, valued at $55,458,002.70. This represents a 29.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the transaction, the executive vice president directly owned 101,135 shares in the company, valued at $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 547,948 shares of company stock valued at $103,462,223. 2.50% of the stock is currently owned by corporate insiders.

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.