InTrack Investment Management Inc trimmed its stake in Palo Alto Networks, Inc. (NASDAQ: PANW – Get Rating) by 10.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,675 shares of the network technology company stock after selling 652 shares during the quarter. Palo Alto Networks accounts for 2.9% of InTrack Investment Management Inc’s portfolio, making the stock its 5th biggest holding. InTrack Investment Management Inc’s holdings in Palo Alto Networks were worth $ 3,533,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in PANW. Patriot Financial Group Insurance Agency LLC lifted its holdings in Palo Alto Networks by 108.7% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 48 shares of the network technology company stock valued at $ 27,000 after acquiring an additional 25 shares during the period. North Star Investment Management Corp. purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $ 28,000. Tyler Stone Wealth Management bought a new position in Palo Alto Networks during the fourth quarter valued at approximately $ 33,000. Catalyst Capital Advisors LLC boosted its stake in Palo Alto Networks by 113.8% during the fourth quarter. Catalyst Capital Advisors LLC now owns 62 shares of the network technology company stock valued at $ 35,000 after buying an additional 33 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Palo Alto Networks by 85.7% in the 4th quarter. Lindbrook Capital LLC now owns 65 shares of the network technology company stock valued at $ 36,000 after purchasing an additional 30 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PANW stock opened at $ 503.07 on Friday. The business has a 50-day simple moving average of $ 518.70 and a 200-day simple moving average of $ 536.62. Palo Alto Networks, Inc. has a 52-week low of $ 358.37 and a 52-week high of $ 640.90.
Palo Alto Networks (NASDAQ: PANW – Get Rating) last issued its quarterly earnings data on Thursday, May 19th. The network technology company reported ($ 0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($ 0.40) by ($ 0.21). The company had revenue of $ 1.39 billion during the quarter, compared to analyst estimates of $ 1.36 billion. Palo Alto Networks had a negative net margin of 7.54% and a negative return on equity of 57.50%. The business’s quarterly revenue was up 29.1% compared to the same quarter last year. During the same period last year, the firm earned ($ 0.62) EPS. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post -0.73 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on the company. Wells Fargo & Company reissued a “buy” rating and set a $ 700.00 price target on shares of Palo Alto Networks in a research note on Friday, May 20th. Cowen reissued a “buy” rating and set a $ 620.00 price target on shares of Palo Alto Networks in a research note on Friday, May 20th. Mizuho reduced their price objective on Palo Alto Networks from $ 625.00 to $ 600.00 and set a “buy” rating on the stock in a report on Wednesday, May 18th. Raymond James restated a “buy” rating and set a $ 610.00 price objective on shares of Palo Alto Networks in a report on Friday, May 20th. Finally, Truist Financial raised their price objective on Palo Alto Networks from $ 600.00 to $ 675.00 and gave the stock a “buy” rating in a report on Thursday, March 24th. Three investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $ 628.56.
In other Palo Alto Networks news, Director Aparna Bawa sold 951 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $ 501.56, for a total value of $ 476,983.56. Following the sale, the director now directly owns 1,899 shares of the company stock, valued at $ 952,462.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 3,125 shares of the company stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $ 500.52, for a total value of $ 1,564,125.00. Following the transaction, the chief executive officer now directly owns 489,791 shares of the company stock, valued at $ 245,150,191.32. The disclosure for this sale can be found here. In the last three months, insiders sold 56,789 shares of company stock valued at $ 421,471,941. Insiders own 2.20% of the company stock.
About Palo Alto Networks: (Get Rating)
Palo Alto Networks, Inc. provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on an end-customer’s network and instances in public or private cloud environments, 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.
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