Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,979 shares of the network technology company’s stock after selling 72 shares during the period. International Assets Investment Management LLC’s holdings in Palo Alto Networks were worth $2,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. GSG Advisors LLC grew its holdings in shares of Palo Alto Networks by 1.0% during the fourth quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock worth $1,478,000 after buying an additional 51 shares in the last quarter. Spirit of America Management Corp NY grew its stake in Palo Alto Networks by 50.0% during the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after acquiring an additional 100 shares in the last quarter. Truist Financial Corp raised its holdings in Palo Alto Networks by 148.9% in the 3rd quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock valued at $44,497,000 after acquiring an additional 113,534 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Palo Alto Networks by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after purchasing an additional 735 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. acquired a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $3,135,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the transaction, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Insiders have sold a total of 280,193 shares of company stock valued at $80,670,132 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 21st. The Goldman Sachs Group lifted their price target on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Mizuho dropped their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. Scotiabank reduced their target price on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada boosted their price target on shares of Palo Alto Networks to $420.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Eleven analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Trading Up 0.6 %

Palo Alto Networks stock opened at $297.47 on Monday. The stock has a 50 day moving average of $285.10 and a two-hundred day moving average of $295.20. Palo Alto Networks, Inc. has a twelve month low of $186.75 and a twelve month high of $380.84. The stock has a market capitalization of $96.11 billion, a price-to-earnings ratio of 46.48, a PEG ratio of 4.04 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. Equities analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

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.