TrimTabs Asset Management LLC Lowers Stake in Palo Alto Networks, Inc. (NYSE:PANW)

TrimTabs Asset Management LLC lowered its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,924 shares of the network technology company’s stock after selling 37 shares during the period. TrimTabs Asset Management LLC’s holdings in Palo Alto Networks were worth $1,893,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Viking Global Investors LP purchased a new stake in shares of Palo Alto Networks in the 4th quarter valued at $670,667,000. Norges Bank purchased a new stake in Palo Alto Networks in the fourth quarter valued at $358,841,000. Duquesne Family Office LLC lifted its stake in shares of Palo Alto Networks by 457.8% in the 4th quarter. Duquesne Family Office LLC now owns 459,060 shares of the network technology company’s stock valued at $163,145,000 after purchasing an additional 376,760 shares during the period. Frontier Capital Management Co. LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at $94,102,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at $89,061,000. 80.76% of the stock is owned by institutional investors and hedge funds.

Shares of PANW stock traded up $7.48 during mid-day trading on Thursday, hitting $346.05. The stock had a trading volume of 20,984 shares, compared to its average volume of 1,190,399. The firm has a market cap of $33.65 billion, a PE ratio of -109.22 and a beta of 1.50. The company’s 50-day simple moving average is $344.07 and its 200-day simple moving average is $315.26. The company has a debt-to-equity ratio of 4.18, a current ratio of 1.63 and a quick ratio of 1.63. Palo Alto Networks, Inc. has a fifty-two week low of $172.36 and a fifty-two week high of $403.00.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Sunday, February 21st. The network technology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.12. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $985.90 million. Palo Alto Networks had a negative net margin of 8.36% and a negative return on equity of 8.66%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.19 earnings per share. On average, analysts expect that Palo Alto Networks, Inc. will post -1.69 EPS for the current year.

Several research firms recently issued reports on PANW. JMP Securities boosted their target price on shares of Palo Alto Networks from $310.00 to $430.00 in a research note on Wednesday, February 17th. Monness Crespi & Hardt increased their target price on shares of Palo Alto Networks from $315.00 to $440.00 in a research report on Friday, February 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Palo Alto Networks from $423.00 to $426.00 and gave the company a “buy” rating in a report on Monday, March 1st. Piper Sandler increased their target price on shares of Palo Alto Networks from $400.00 to $425.00 and gave the stock an “overweight” rating in a research note on Monday, March 1st. Finally, The Goldman Sachs Group increased their target price on shares of Palo Alto Networks from $310.00 to $408.00 and gave the stock a “buy” rating in a research note on Friday, January 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $377.06.

In other news, Director Mark D. Mclaughlin sold 1,500 shares of the stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $327.85, for a total value of $491,775.00. Following the completion of the transaction, the director now owns 59,190 shares in the company, valued at approximately $19,405,441.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction dated Monday, February 1st. The shares were sold at an average price of $361.90, for a total transaction of $4,342,800.00. Following the completion of the sale, the executive vice president now owns 882,856 shares of the company’s stock, valued at approximately $319,505,586.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,917 shares of company stock valued at $32,113,001. Company insiders own 2.30% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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