Park Place Capital Corp Sells 295 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Park Place Capital Corp decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 17.3% during the 1st quarter, Holdings Channel reports. The firm owned 1,411 shares of the network technology company’s stock after selling 295 shares during the quarter. Park Place Capital Corp’s holdings in Palo Alto Networks were worth $401,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new stake in shares of Palo Alto Networks during the third quarter worth $2,312,000. Qube Research & Technologies Ltd acquired a new position in shares of Palo Alto Networks during the third quarter worth approximately $3,394,000. Teza Capital Management LLC grew its stake in shares of Palo Alto Networks by 17.8% during the third quarter. Teza Capital Management LLC now owns 4,666 shares of the network technology company’s stock valued at $1,094,000 after purchasing an additional 705 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Palo Alto Networks during the 3rd quarter worth $9,037,000. Finally, Insigneo Advisory Services LLC boosted its holdings in Palo Alto Networks by 17.8% in the third quarter. Insigneo Advisory Services LLC now owns 2,738 shares of the network technology company’s stock valued at $642,000 after acquiring an additional 414 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, Director Aparna Bawa sold 322 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the transaction, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Aparna Bawa sold 322 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the transaction, the director now directly owns 3,767 shares of the company’s stock, valued at $1,167,770. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the transaction, the president now owns 20,501 shares in the company, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,182 shares of company stock valued at $74,850,597. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI dropped their target price on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a research report on Tuesday, May 14th. Redburn Atlantic raised their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. BMO Capital Markets boosted their target price on Palo Alto Networks from $327.00 to $334.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Robert W. Baird increased their price target on shares of Palo Alto Networks from $340.00 to $360.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. Finally, Wedbush restated an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $340.90 on Tuesday. The business has a 50 day moving average of $307.06 and a 200-day moving average of $307.11. Palo Alto Networks, Inc. has a 1 year low of $201.17 and a 1 year high of $380.84. The company has a market capitalization of $110.38 billion, a P/E ratio of 49.55, a P/E/G ratio of 5.19 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. Palo Alto Networks’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. Equities analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Palo Alto Networks Profile

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.