Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich lessened its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,499 shares of the network technology company’s stock after selling 2,160 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Palo Alto Networks were worth $5,455,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. First Pacific Financial lifted its position in shares of Palo Alto Networks by 421.7% in the 3rd quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. Webster Bank N. A. lifted its position in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC lifted its position in shares of Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 47 shares in the last quarter. Byrne Asset Management LLC lifted its position in shares of Palo Alto Networks by 277.8% in the 3rd quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. Finally, MV Capital Management Inc. lifted its position in shares of 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 acquiring an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PANW shares. Susquehanna dropped their price objective on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a research note on Monday, February 26th. Sanford C. Bernstein started coverage on shares of Palo Alto Networks in a research note on Thursday, January 18th. They issued an “outperform” rating on the stock. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, February 21st. KeyCorp dropped their price objective on shares of Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Finally, Royal Bank of Canada upped their price objective 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 given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $291.42 on Friday. The firm has a fifty day moving average price of $287.61 and a two-hundred day moving average price of $292.10. The company has a market cap of $94.16 billion, a PE ratio of 45.53, a price-to-earnings-growth ratio of 3.93 and a beta of 1.19. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. 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 net margin of 30.24% and a return on equity of 36.58%. Analysts expect that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other 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 transaction of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the sale, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, 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. In the last three months, insiders sold 167,917 shares of company stock valued at $49,395,553. Company insiders own 3.30% of the company’s stock.

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.