Midland Wealth Advisors LLC Sells 195 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Midland Wealth Advisors LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,481 shares of the network technology company’s stock after selling 195 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $1,106,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. JDM Financial Group LLC raised its position in shares of Palo Alto Networks by 22.4% during the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after buying an additional 59 shares in the last quarter. Snider Financial Group raised its position in shares of Palo Alto Networks by 0.4% during the 1st quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock valued at $3,025,000 after buying an additional 65 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Palo Alto Networks by 8.4% during the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company’s stock worth $165,000 after acquiring an additional 70 shares during the last quarter. Finally, Quarry LP grew its position in Palo Alto Networks by 16.9% in the fourth quarter. Quarry LP now owns 511 shares of the network technology company’s stock worth $93,000 after acquiring an additional 74 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Stock Performance

PANW stock opened at $199.60 on Monday. The company has a market capitalization of $133.09 billion, a price-to-earnings ratio of 112.45, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. The business’s 50 day moving average price is $180.48 and its two-hundred day moving average price is $184.92. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 earnings per share. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the transaction, the executive vice president now owns 264,246 shares in the company, valued at approximately $51,564,964.44. This represents a 31.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now directly owns 317,571 shares of the company’s stock, valued at approximately $54,854,038.83. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 789,736 shares of company stock valued at $139,837,528 in the last quarter. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PANW shares. Wells Fargo & Company lifted their price target on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Northland Securities dropped their target price on Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating for the company in a research report on Wednesday, May 21st. JMP Securities upped their target price on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. TD Securities reissued a “buy” rating and set a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Finally, HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective for the company in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

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.