Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Goodman Advisory Group LLC

Goodman Advisory Group LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.8% during the first quarter, Holdings Channel reports. The firm owned 14,208 shares of the network technology company’s stock after selling 260 shares during the period. Palo Alto Networks makes up approximately 1.1% of Goodman Advisory Group LLC’s investment portfolio, making the stock its 23rd largest position. Goodman Advisory Group LLC’s holdings in Palo Alto Networks were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of PANW. Transce3nd LLC purchased a new stake in Palo Alto Networks in the fourth quarter valued at $25,000. Strategic Investment Solutions Inc. IL increased its position in shares of 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 worth $26,000 after purchasing an additional 55 shares in the last quarter. Anchor Investment Management LLC increased its position in shares of Palo Alto Networks by 100.0% during the fourth 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 in the last quarter. Kiely Wealth Advisory Group Inc. lifted its holdings in shares of Palo Alto Networks by 100.0% in 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 during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity

In related news, CEO Nikesh Arora sold 227,414 shares of the business’s stock in a transaction dated 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 directly owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the firm’s 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 owns 3,543,516 shares of the company’s stock, valued at $586,132,981.56. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 795,536 shares of company stock worth $141,007,618. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

PANW has been the topic of a number of research reports. Truist Financial dropped their price target on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Morgan Stanley lowered their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. TD Securities reaffirmed a “buy” rating and issued a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Stephens downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 1st. Finally, 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. Two 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $208.00.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $200.57 on Friday. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The firm has a market capitalization of $133.74 billion, a P/E ratio of 114.61, a PEG ratio of 5.60 and a beta of 0.97. The company’s fifty day moving average is $190.70 and its two-hundred day moving average is $185.33.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the business earned $0.66 earnings per share. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Palo Alto Networks Company 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.