International Assets Investment Management LLC Has $3.26 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

International Assets Investment Management LLC boosted its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,122 shares of the network technology company’s stock after buying an additional 871 shares during the quarter. International Assets Investment Management LLC’s holdings in Palo Alto Networks were worth $3,263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PANW. Transce3nd LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL lifted its holdings in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 79 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 78 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. lifted its holdings in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 75 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Up 2.0%

Shares of PANW opened at $203.32 on Tuesday. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The firm has a fifty day simple moving average of $188.10 and a 200 day simple moving average of $185.08. The stock has a market capitalization of $135.57 billion, a price-to-earnings ratio of 116.18, a PEG ratio of 5.56 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The firm’s revenue was up 15.3% on a year-over-year basis. As a group, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the transaction, the chief executive officer now directly owns 317,571 shares of the company’s stock, valued at $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at $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. Over the last three months, insiders have sold 790,536 shares of company stock valued at $139,998,368. 2.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PANW has been the subject of several analyst reports. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an “outperform” rating in a report on Wednesday, May 21st. Stephens downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. HSBC raised shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price for the company in a research note on Thursday, April 10th. Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research note on Thursday, April 10th. Finally, Morgan Stanley dropped their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.00.

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.