Generation Investment Management LLP Sells 478,517 Shares of Palo Alto Networks, Inc. (NYSE:PANW)

Generation Investment Management LLP decreased its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 17.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,232,647 shares of the network technology company’s stock after selling 478,517 shares during the period. Palo Alto Networks comprises 3.0% of Generation Investment Management LLP’s portfolio, making the stock its 17th largest holding. Generation Investment Management LLP owned about 2.30% of Palo Alto Networks worth $719,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Abundance Wealth Counselors bought a new position in Palo Alto Networks during the first quarter valued at approximately $32,000. Curi Capital bought a new position in Palo Alto Networks in the fourth quarter worth approximately $40,000. Wealthcare Capital Management LLC bought a new position in Palo Alto Networks in the first quarter worth approximately $40,000. Valley Brook Capital Group bought a new position in Palo Alto Networks in the fourth quarter worth approximately $47,000. Finally, Concord Wealth Partners bought a new position in Palo Alto Networks in the fourth quarter worth approximately $50,000. Institutional investors own 81.88% of the company’s stock.

Shares of Palo Alto Networks stock traded up $6.54 during trading on Thursday, hitting $398.36. The stock had a trading volume of 13,611 shares, compared to its average volume of 935,239. The company has a fifty day simple moving average of $367.90. The firm has a market capitalization of $38.80 billion, a PE ratio of -85.93 and a beta of 1.39. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.38 and a current ratio of 1.38. Palo Alto Networks, Inc. has a 12 month low of $219.34 and a 12 month high of $403.00.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Wednesday, May 19th. The network technology company reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.10. Palo Alto Networks had a negative net margin of 11.00% and a negative return on equity of 10.65%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business earned $1.17 EPS. The business’s revenue was up 23.5% on a year-over-year basis. Analysts forecast that Palo Alto Networks, Inc. will post -1.55 earnings per share for the current year.

In other news, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $351.36, for a total value of $4,216,320.00. Following the completion of the sale, the executive vice president now owns 843,304 shares in the company, valued at approximately $296,303,293.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark D. Mclaughlin sold 1,500 shares of the business’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $353.84, for a total transaction of $530,760.00. Following the completion of the sale, the director now owns 56,537 shares of the company’s stock, valued at approximately $20,005,052.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,546 shares of company stock valued at $16,169,555. Company insiders own 2.30% of the company’s stock.

Several research analysts have weighed in on PANW shares. Jefferies Financial Group decreased their price target on shares of Palo Alto Networks from $460.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, May 18th. They noted that the move was a valuation call. Piper Sandler raised their price objective on shares of Palo Alto Networks from $425.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, June 16th. Stifel Nicolaus began coverage on shares of Palo Alto Networks in a research report on Monday, May 24th. They set a “buy” rating on the stock. Barclays decreased their price objective on shares of Palo Alto Networks from $565.00 to $500.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 19th. Finally, Robert W. Baird restated a “buy” rating on shares of Palo Alto Networks in a research report on Friday, April 16th. One equities research analyst has rated the stock with a sell rating and twenty-eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $404.73.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances and software deployed on an end-customer's network as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

Further Reading: Dividend Aristocrat Index

Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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