Brown Lisle Cummings Inc. Sells 86 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Brown Lisle Cummings Inc. decreased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,562 shares of the network technology company’s stock after selling 86 shares during the period. Brown Lisle Cummings Inc.’s holdings in Palo Alto Networks were worth $2,144,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL boosted its position in shares of Palo Alto Networks by 64.0% in the fourth 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. JDM Financial Group LLC boosted its position in shares of Palo Alto Networks by 22.4% in the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock worth $59,000 after purchasing an additional 59 shares during the period. Adero Partners LLC boosted its position in shares of Palo Alto Networks by 4.3% in the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company’s stock worth $266,000 after purchasing an additional 64 shares during the period. Snider Financial Group boosted its position in shares of Palo Alto Networks by 0.4% in the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock worth $3,025,000 after purchasing an additional 65 shares during the period. Finally, Grimes & Company Inc. boosted its position in shares of Palo Alto Networks by 5.3% in the first quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company’s stock worth $224,000 after purchasing an additional 66 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

PANW stock opened at $199.24 on Monday. The company has a market capitalization of $132.85 billion, a PE ratio of 113.85, a P/E/G ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The firm’s 50-day moving average is $187.43 and its 200 day moving average is $185.08.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS 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 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 firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. Sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares in the company, valued at $586,132,981.56. This represents a 2.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 264,246 shares in the company, valued at approximately $51,564,964.44. The trade was a 31.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 789,736 shares of company stock valued at $139,837,528 in the last 90 days. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stephens lowered shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Northland Securities dropped their target price on shares of 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. Morgan Stanley dropped their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Truist Financial dropped their target price 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. Finally, Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat, 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.