Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC decreased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 47.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,983 shares of the network technology company’s stock after selling 1,775 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Palo Alto Networks were worth $585,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wilbanks Smith & Thomas Asset Management LLC lifted its position in shares of Palo Alto Networks by 1,978.9% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 21,267 shares of the network technology company’s stock worth $6,271,000 after buying an additional 20,244 shares during the last quarter. FFT Wealth Management LLC grew its holdings in Palo Alto Networks by 5.4% during the fourth quarter. FFT Wealth Management LLC now owns 1,183 shares of the network technology company’s stock valued at $349,000 after purchasing an additional 61 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in shares of Palo Alto Networks by 30.7% in the fourth quarter. First Trust Direct Indexing L.P. now owns 4,575 shares of the network technology company’s stock worth $1,349,000 after buying an additional 1,074 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in shares of Palo Alto Networks by 2.0% during the 4th quarter. New York Life Investment Management LLC now owns 48,557 shares of the network technology company’s stock worth $14,318,000 after buying an additional 953 shares during the period. Finally, Y.D. More Investments Ltd grew its stake in Palo Alto Networks by 9.6% in the 4th quarter. Y.D. More Investments Ltd now owns 38,312 shares of the network technology company’s stock valued at $11,297,000 after buying an additional 3,364 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President William D. Jenkins, Jr. sold 1,867 shares of the business’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 transaction, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction that occurred 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 sale, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,917 shares of company stock worth $33,959,203. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Capital One Financial cut shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a report on Wednesday, February 21st. Susquehanna lowered their price objective on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a research note on Monday, February 26th. Piper Sandler cut shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and cut their target price for the company from $350.00 to $300.00 in a research note on Wednesday, February 21st. Oppenheimer increased their price target on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Finally, Citigroup boosted their price objective on shares of Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Trading Down 0.1 %

NASDAQ PANW traded down $0.31 during trading on Friday, reaching $295.01. The company’s stock had a trading volume of 1,838,510 shares, compared to its average volume of 5,273,641. Palo Alto Networks, Inc. has a 12 month low of $177.09 and a 12 month high of $380.84. The firm has a 50 day moving average price of $285.70 and a 200 day moving average price of $293.01. The firm has a market capitalization of $95.32 billion, a price-to-earnings ratio of 45.59, a price-to-earnings-growth ratio of 3.91 and a beta of 1.18.

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