Palo Alto Networks, Inc. (NASDAQ:PANW) Position Lessened by Andra AP fonden

Andra AP fonden reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 45.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,593 shares of the network technology company’s stock after selling 46,007 shares during the quarter. Andra AP fonden’s holdings in Palo Alto Networks were worth $9,934,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PANW. SJS Investment Consulting Inc. grew its position in shares of Palo Alto Networks by 97.2% during the fourth quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares during the last quarter. Valued Wealth Advisors LLC lifted its position in Palo Alto Networks by 246.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 101 shares during the last quarter. Abound Wealth Management boosted its stake in Palo Alto Networks by 97.3% during the 4th quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 72 shares during the period. Atlantic Edge Private Wealth Management LLC grew its holdings in Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after buying an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $181.22, for a total transaction of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares in the company, valued at $8,694,210.72. The trade was a 1.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 490,723 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $89,532,411.35. Following the completion of the sale, the chief executive officer now owns 1,086,404 shares in the company, valued at approximately $198,214,409.80. The trade was a 31.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,122,864 shares of company stock valued at $204,315,811. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

PANW opened at $180.93 on Friday. The company has a market cap of $119.79 billion, a PE ratio of 101.93, a price-to-earnings-growth ratio of 5.64 and a beta of 1.04. The stock has a 50-day moving average of $186.05 and a 200-day moving average of $184.77. Palo Alto Networks, Inc. has a 52-week low of $132.50 and a 52-week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.24 billion. On average, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PANW. Westpark Capital reiterated a “hold” rating and issued a $196.40 price objective on shares of Palo Alto Networks in a report on Wednesday, February 12th. Hsbc Global Res downgraded Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Friday, November 22nd. Bank of America increased their price target on Palo Alto Networks from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Guggenheim downgraded Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective on the stock. in a report on Monday, January 6th. Finally, KeyCorp raised their target price on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $205.06.

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.