Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Intellectus Partners LLC

Intellectus Partners LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 800 shares of the network technology company’s stock after selling 100 shares during the period. Intellectus Partners LLC’s holdings in Palo Alto Networks were worth $236,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Oak Thistle LLC purchased a new stake in Palo Alto Networks during the third quarter worth $235,000. U.S. Capital Wealth Advisors LLC grew its stake in Palo Alto Networks by 104.7% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 4,098 shares of the network technology company’s stock valued at $961,000 after acquiring an additional 2,096 shares during the last quarter. Brookstone Capital Management grew its stake in Palo Alto Networks by 1,166.4% in the 3rd quarter. Brookstone Capital Management now owns 15,552 shares of the network technology company’s stock valued at $3,937,000 after acquiring an additional 14,324 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Palo Alto Networks by 4.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 218,060 shares of the network technology company’s stock valued at $51,122,000 after acquiring an additional 9,075 shares in the last quarter. Finally, Deltec Asset Management LLC acquired a new position in Palo Alto Networks during the third quarter worth about $703,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PANW shares. Stifel Nicolaus reissued a “buy” rating and set a $330.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Citigroup lifted their price objective on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Northland Securities cut Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective on the stock. in a report on Wednesday, February 21st. Rosenblatt Securities lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $265.00 in a research note on Wednesday, February 21st. Finally, Wedbush lifted their price target on Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $314.82.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $293.41 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84. The firm has a market capitalization of $94.80 billion, a PE ratio of 45.85, a price-to-earnings-growth ratio of 3.96 and a beta of 1.19. The stock has a fifty day moving average of $286.15 and a two-hundred day moving average of $292.81.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Equities research analysts predict that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at $56,327,194.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,917 shares of company stock worth $33,959,203. Corporate insiders own 3.30% of the company’s stock.

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.