Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Investment Research & Advisory Group Inc.

Investment Research & Advisory Group Inc. lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,824 shares of the network technology company’s stock after selling 38 shares during the period. Investment Research & Advisory Group Inc.’s holdings in Palo Alto Networks were worth $518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Horizon Family Wealth Inc. raised its position in Palo Alto Networks by 1.1% in the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after purchasing an additional 28 shares in the last quarter. MV Capital Management Inc. raised its position in Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of Palo Alto Networks by 17.2% in the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after acquiring an additional 30 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Palo Alto Networks by 15.9% in the 4th quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after acquiring an additional 32 shares during the last quarter. Finally, Parisi Gray Wealth Management increased its holdings in shares of Palo Alto Networks by 2.2% in the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock valued at $448,000 after acquiring an additional 33 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other Palo Alto Networks news, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the transaction, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John P. Key sold 2,163 shares of Palo Alto Networks stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the sale, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Aparna Bawa sold 322 shares of Palo Alto Networks stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the sale, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,182 shares of company stock valued at $74,850,597. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

PANW stock traded down $1.81 during midday trading on Friday, hitting $339.01. 4,172,306 shares of the stock were exchanged, compared to its average volume of 3,168,419. The stock’s 50-day moving average price is $307.06 and its 200-day moving average price is $307.16. The stock has a market cap of $109.77 billion, a price-to-earnings ratio of 49.27, a PEG ratio of 5.22 and a beta of 1.10. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.07. The company 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 32.74% and a net margin of 31.42%. 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 $0.38 earnings per share. Research analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of recent analyst reports. Redburn Atlantic increased their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. Evercore ISI dropped their price objective on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a report on Tuesday, May 14th. Daiwa Capital Markets initiated coverage on Palo Alto Networks in a report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price objective on the stock. Finally, Sanford C. Bernstein increased their price objective on Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Twelve research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks 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.