Palo Alto Networks, Inc. (NASDAQ:PANW) is Quintet Private Bank Europe S.A.’s 9th Largest Position

Quintet Private Bank Europe S.A. trimmed its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,861 shares of the network technology company’s stock after selling 7,050 shares during the period. Palo Alto Networks accounts for approximately 2.2% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 9th largest position. Quintet Private Bank Europe S.A.’s holdings in Palo Alto Networks were worth $38,200,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PANW. RMR Wealth Builders lifted its position in shares of Palo Alto Networks by 1.9% during the 1st quarter. RMR Wealth Builders now owns 4,246 shares of the network technology company’s stock valued at $725,000 after buying an additional 78 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of Palo Alto Networks by 4.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 49,075 shares of the network technology company’s stock valued at $8,374,000 after buying an additional 2,026 shares in the last quarter. Sky Investment Group LLC raised its stake in Palo Alto Networks by 1.0% during the 1st quarter. Sky Investment Group LLC now owns 10,320 shares of the network technology company’s stock worth $1,761,000 after acquiring an additional 100 shares during the period. Liberty Capital Management Inc. raised its stake in Palo Alto Networks by 1.8% during the 1st quarter. Liberty Capital Management Inc. now owns 14,496 shares of the network technology company’s stock worth $2,474,000 after acquiring an additional 262 shares during the period. Finally, Mogy Joel R Investment Counsel Inc. raised its stake in Palo Alto Networks by 1.5% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 309,235 shares of the network technology company’s stock worth $52,768,000 after acquiring an additional 4,605 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 10th. Wells Fargo & Company boosted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $223.00 price objective on shares of Palo Alto Networks in a research report on Monday, May 19th. Finally, Guggenheim reissued a “sell” rating and set a $130.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $208.00.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total transaction of $23,567,838.36. Following the completion of the sale, the executive vice president now owns 264,246 shares of the company’s stock, valued at $51,564,964.44. The trade was a 31.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the sale, the executive vice president now owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 789,736 shares of company stock valued at $139,837,528 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $197.67 on Friday. The firm’s 50 day simple moving average is $183.28 and its 200-day simple moving average is $185.12. The firm has a market cap of $131.81 billion, a PE ratio of 111.36, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

About Palo Alto Networks

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.