Palo Alto Networks, Inc. (NASDAQ:PANW) is InTrack Investment Management Inc’s 4th Largest Position

InTrack Investment Management Inc decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 17.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,303 shares of the network technology company’s stock after selling 5,271 shares during the quarter. Palo Alto Networks makes up approximately 3.9% of InTrack Investment Management Inc’s portfolio, making the stock its 4th biggest position. InTrack Investment Management Inc’s holdings in Palo Alto Networks were worth $4,318,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PANW. Vanguard Group Inc. lifted its holdings in shares of Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC lifted its stake in Palo Alto Networks by 87.8% in the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after buying an additional 6,725,148 shares during the last quarter. Capital Research Global Investors lifted its stake in Palo Alto Networks by 83.8% in the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after buying an additional 3,841,359 shares during the last quarter. Northern Trust Corp lifted its stake in Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock valued at $1,427,048,000 after buying an additional 4,486,654 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Palo Alto Networks by 17.6% in the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company’s stock valued at $1,324,387,000 after purchasing an additional 1,088,631 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of PANW opened at $195.95 on Wednesday. The firm has a 50 day simple moving average of $181.56 and a 200-day simple moving average of $185.03. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The stock has a market cap of $130.66 billion, a price-to-earnings ratio of 110.39, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97.

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, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Palo Alto Networks’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price target for the company in a research report on Thursday, April 10th. Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the company an “outperform” rating in a report on Wednesday, May 21st. UBS Group upped their price objective on Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. JMP Securities upped their price objective on Palo Alto Networks from $208.00 to $212.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Finally, Citigroup upped their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Two investment 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. According to data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus price target of $208.00.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the completion of the sale, the executive vice president now directly owns 264,246 shares of the company’s stock, 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 sold 789,736 shares of company stock worth $139,837,528. 2.50% of the stock is 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.