Ameliora Wealth Management Ltd. Sells 1,698 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Ameliora Wealth Management Ltd. lessened its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,640 shares of the network technology company’s stock after selling 1,698 shares during the period. Ameliora Wealth Management Ltd.’s holdings in Palo Alto Networks were worth $962,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PANW. Transce3nd LLC bought a new stake in Palo Alto Networks in the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL lifted its position in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after purchasing an additional 55 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 106 shares during the period. Capital Advisors Ltd. LLC lifted its position in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 79 shares during the period. Finally, Anchor Investment Management LLC lifted its position in shares of Palo Alto Networks by 100.0% in the 4th 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. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

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

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $196.33 on Tuesday. The firm has a market cap of $130.91 billion, a price-to-earnings ratio of 110.61, a P/E/G ratio of 5.64 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 has a fifty day moving average price of $180.94 and a 200 day moving average price of $184.95.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on PANW shares. HSBC raised shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price for the company in a research report on Thursday, April 10th. Guggenheim reaffirmed a “sell” rating and issued a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Wells Fargo & Company raised their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. KeyCorp reissued an “overweight” rating and set a $220.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Truist Financial lowered their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $208.00.

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.