AXS Investments LLC Has $2.58 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

AXS Investments LLC decreased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,918 shares of the network technology company’s stock after selling 1,403 shares during the quarter. Palo Alto Networks comprises approximately 0.9% of AXS Investments LLC’s investment portfolio, making the stock its 22nd largest holding. AXS Investments LLC’s holdings in Palo Alto Networks were worth $2,580,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Public Sector Pension Investment Board grew its position in shares of Palo Alto Networks by 15.2% during the 1st quarter. Public Sector Pension Investment Board now owns 18,499 shares of the network technology company’s stock worth $3,695,000 after buying an additional 2,439 shares during the period. Prudential PLC grew its position in shares of Palo Alto Networks by 20.3% during the 1st quarter. Prudential PLC now owns 10,932 shares of the network technology company’s stock worth $2,184,000 after buying an additional 1,843 shares during the period. Sandbar Asset Management LLP acquired a new stake in Palo Alto Networks in the 1st quarter valued at $780,000. Elo Mutual Pension Insurance Co grew its position in Palo Alto Networks by 4.4% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 24,142 shares of the network technology company’s stock valued at $4,821,000 after purchasing an additional 1,008 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in Palo Alto Networks in the 1st quarter valued at $1,271,000. Institutional investors and hedge funds own 85.69% of the company’s stock.

Palo Alto Networks Trading Down 0.5 %

Shares of NASDAQ PANW traded down $1.31 during midday trading on Friday, hitting $241.99. 967,956 shares of the company’s stock were exchanged, compared to its average volume of 5,016,496. Palo Alto Networks, Inc. has a 12-month low of $132.22 and a 12-month high of $258.88. The company has a market cap of $74.02 billion, a price-to-earnings ratio of 191.97, a PEG ratio of 3.42 and a beta of 1.20. The business’s fifty day moving average price is $237.72 and its two-hundred day moving average price is $213.20.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Friday, August 18th. The network technology company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.29 by $0.15. Palo Alto Networks had a return on equity of 65.50% and a net margin of 6.38%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Palo Alto Networks’s revenue was up 26.0% on a year-over-year basis. Equities analysts expect that Palo Alto Networks, Inc. will post 2.45 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 250 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $255.10, for a total transaction of $63,775.00. Following the completion of the transaction, the chief accounting officer now owns 28,302 shares of the company’s stock, valued at $7,219,840.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Josh D. Paul sold 250 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $255.10, for a total value of $63,775.00. Following the completion of the sale, the chief accounting officer now owns 28,302 shares in the company, valued at approximately $7,219,840.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $227.30, for a total value of $10,228,500.00. Following the completion of the sale, the executive vice president now owns 605,212 shares of the company’s stock, valued at approximately $137,564,687.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,765 shares of company stock valued at $38,546,056. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Palo Alto Networks from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, August 21st. Wedbush reissued an “outperform” rating and issued a $290.00 price target on shares of Palo Alto Networks in a research report on Thursday, August 17th. BMO Capital Markets lifted their price target on shares of Palo Alto Networks from $235.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, August 21st. Raymond James lifted their price target on shares of Palo Alto Networks from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, August 21st. Finally, Barclays lifted their price target on shares of Palo Alto Networks from $245.00 to $275.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Five analysts have rated the stock with a hold rating and thirty-nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.88.

Palo Alto Networks Profile

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 a customer's network, as well as their 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.