Integrated Advisors Network LLC Decreases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Integrated Advisors Network LLC decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 24.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,058 shares of the network technology company’s stock after selling 19,450 shares during the quarter. Integrated Advisors Network LLC’s holdings in Palo Alto Networks were worth $10,419,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL raised its stake in 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 purchasing an additional 55 shares in the last quarter. JDM Financial Group LLC raised its stake in Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after purchasing an additional 59 shares in the last quarter. Snider Financial Group raised its stake in Palo Alto Networks by 0.4% during the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock valued at $3,025,000 after purchasing an additional 65 shares in the last quarter. Rakuten Securities Inc. raised its stake in Palo Alto Networks by 8.4% during the fourth quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company’s stock valued at $165,000 after purchasing an additional 70 shares in the last quarter. Finally, Quarry LP raised its stake in Palo Alto Networks by 16.9% during the fourth quarter. Quarry LP now owns 511 shares of the network technology company’s stock valued at $93,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PANW. Guggenheim reissued a “sell” rating and issued a $130.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Wells Fargo & Company increased their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Jefferies Financial Group increased their target price on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, May 16th. KeyCorp reissued an “overweight” rating and issued a $220.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, Morgan Stanley reduced their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 264,246 shares in the company, valued at approximately $51,564,964.44. This represents a 31.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 789,736 shares of company stock valued at $139,837,528. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $195.95 on Wednesday. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The stock has a market capitalization of $130.66 billion, a P/E ratio of 110.39, a P/E/G ratio of 5.64 and a beta of 0.97. The company’s 50-day simple moving average is $181.56 and its 200-day simple moving average is $185.03.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the business earned $0.66 EPS. The company’s revenue was up 15.3% compared to the same quarter last year. On average, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current 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.