Arcadia Investment Management Corp MI Lowers Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Arcadia Investment Management Corp MI trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,549 shares of the network technology company’s stock after selling 6,038 shares during the period. Palo Alto Networks makes up approximately 4.3% of Arcadia Investment Management Corp MI’s holdings, making the stock its 4th biggest holding. Arcadia Investment Management Corp MI’s holdings in Palo Alto Networks were worth $23,642,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Transce3nd LLC bought a new position in Palo Alto Networks in the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after buying an additional 55 shares during the period. Anchor Investment Management LLC raised its position in shares of Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 78 shares during the period. Kiely Wealth Advisory Group Inc. raised its position in shares of Palo Alto Networks by 100.0% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after purchasing an additional 75 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in shares of Palo Alto Networks during the fourth quarter worth approximately $29,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 600 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total value of $122,400.00. Following the sale, the chief accounting officer owned 41,433 shares of the company’s stock, valued at $8,452,332. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the sale, the executive vice president owned 101,135 shares in the company, valued at $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 547,948 shares of company stock worth $103,462,223 over the last three months. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PANW. Wells Fargo & Company upped their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Stephens lowered shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Hsbc Global Res upgraded shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 10th. Morgan Stanley dropped their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Jefferies Financial Group boosted their target price on Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Palo Alto Networks Stock Performance

PANW opened at $203.99 on Wednesday. The stock has a market cap of $136.02 billion, a price-to-earnings ratio of 116.57, a price-to-earnings-growth ratio of 5.62 and a beta of 0.97. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The firm’s fifty day moving average is $194.55 and its 200 day moving average is $185.62.

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