Darden Wealth Group Inc Sells 420 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Darden Wealth Group Inc lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.8% during the first quarter, HoldingsChannel.com reports. The fund owned 6,766 shares of the network technology company’s stock after selling 420 shares during the quarter. Darden Wealth Group Inc’s holdings in Palo Alto Networks were worth $1,155,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PANW. Strategic Investment Solutions Inc. IL boosted its position in shares of 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 worth $26,000 after purchasing an additional 55 shares in the last quarter. Crew Capital Management Ltd. grew its position in shares of Palo Alto Networks by 2.5% during the 1st quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company’s stock valued at $394,000 after acquiring an additional 57 shares during the period. JDM Financial Group LLC boosted its holdings in Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock worth $59,000 after buying an additional 59 shares during the period. Sage Mountain Advisors LLC boosted its holdings in Palo Alto Networks by 1.5% in the 1st quarter. Sage Mountain Advisors LLC now owns 3,931 shares of the network technology company’s stock worth $671,000 after buying an additional 60 shares during the period. Finally, WealthBridge Capital Management LLC boosted its holdings in Palo Alto Networks by 2.0% in the 1st quarter. WealthBridge Capital Management LLC now owns 3,067 shares of the network technology company’s stock worth $523,000 after buying an additional 61 shares during the period. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 0.1%

Shares of NASDAQ:PANW traded up $0.12 during trading on Friday, reaching $196.40. The stock had a trading volume of 506,795 shares, compared to its average volume of 5,399,934. The firm’s 50-day simple moving average is $195.41 and its 200 day simple moving average is $185.94. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The company has a market capitalization of $130.96 billion, a P/E ratio of 112.28, a PEG ratio of 5.38 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. Palo Alto Networks’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. Equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PANW shares. Roth Capital initiated coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They issued a “neutral” rating and a $210.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $235.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 20th. KeyCorp restated an “overweight” rating and issued a $220.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. Finally, Barclays reduced their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research report 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $208.00.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the sale, the executive vice president directly owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. The trade was a 2.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $200.86, for a total transaction of $24,258,665.64. Following the sale, the executive vice president owned 235,482 shares of the company’s stock, valued at approximately $47,298,914.52. The trade was a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 569,248 shares of company stock worth $111,279,829. Corporate insiders own 2.50% of the company’s stock.

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.