International Assets Investment Management LLC Has $3.26 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

International Assets Investment Management LLC lifted its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.8% during the 1st quarter, HoldingsChannel reports. The fund owned 19,122 shares of the network technology company’s stock after acquiring an additional 871 shares during the quarter. International Assets Investment Management LLC’s holdings in Palo Alto Networks were worth $3,263,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in Palo Alto Networks by 147.7% during the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after buying an additional 4,031 shares in the last quarter. Roanoke Asset Management Corp NY grew its stake in Palo Alto Networks by 100.0% during the fourth quarter. Roanoke Asset Management Corp NY now owns 1,530 shares of the network technology company’s stock worth $278,000 after buying an additional 765 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of Palo Alto Networks by 115.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company’s stock valued at $8,004,000 after purchasing an additional 23,586 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Palo Alto Networks by 92.1% in the 4th quarter. First Horizon Advisors Inc. now owns 4,768 shares of the network technology company’s stock valued at $868,000 after purchasing an additional 2,286 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its stake in shares of Palo Alto Networks by 114.3% in the 4th quarter. Wealthspire Advisors LLC now owns 13,742 shares of the network technology company’s stock valued at $2,500,000 after purchasing an additional 7,330 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PANW. TD Securities restated a “buy” rating and issued a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price target 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. Guggenheim restated a “sell” rating and issued a $130.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective for the company in a report on Thursday, April 10th. Finally, Truist Financial cut their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $208.00.

Palo Alto Networks Trading Up 2.0%

Shares of PANW stock opened at $203.32 on Tuesday. The firm has a market capitalization of $135.57 billion, a PE ratio of 116.18, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97. The firm has a fifty day simple moving average of $188.10 and a two-hundred day simple moving average of $185.08. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39.

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

Insider Buying and Selling at Palo Alto Networks

In other news, CAO Josh D. Paul sold 800 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $201.05, for a total value of $160,840.00. Following the completion of the sale, the chief accounting officer now owns 42,033 shares in the company, valued at $8,450,734.65. This represents a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 264,246 shares of the company’s stock, valued at approximately $51,564,964.44. The trade was a 31.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 790,536 shares of company stock worth $139,998,368. 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.