Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by PFG Investments LLC

PFG Investments LLC trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,178 shares of the network technology company’s stock after selling 162 shares during the period. PFG Investments LLC’s holdings in Palo Alto Networks were worth $2,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of PANW. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL grew its stake in Palo Alto Networks by 64.0% during the 4th 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 in the last quarter. Kiely Wealth Advisory Group Inc. grew its stake in Palo Alto Networks by 100.0% during the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 75 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Palo Alto Networks by 102.6% during 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 last quarter. Finally, Anchor Investment Management LLC raised 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 valued at $28,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity

In other news, CEO Nikesh Arora sold 227,414 shares of the company’s 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 owns 317,571 shares in the company, valued at $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 789,736 shares of company stock worth $139,837,528 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $199.24 on Friday. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The firm has a market capitalization of $132.85 billion, a PE ratio of 113.85, a price-to-earnings-growth ratio of 5.57 and a beta of 0.97. The stock has a fifty day moving average of $187.43 and a two-hundred day moving average of $185.31.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data 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 business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. Equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PANW shares. Truist Financial decreased 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. Guggenheim reiterated a “sell” rating and set a $130.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 10th. Wells Fargo & Company increased their price target 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. Finally, TD Securities reiterated a “buy” rating and issued a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.