Callan Capital LLC Sells 203 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Callan Capital LLC lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 14.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,223 shares of the network technology company’s stock after selling 203 shares during the period. Callan Capital LLC’s holdings in Palo Alto Networks were worth $361,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PANW. MV Capital Management Inc. increased its holdings in Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after purchasing an additional 29 shares in the last quarter. Quent Capital LLC boosted its position in shares of Palo Alto Networks by 15.9% during the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock valued at $69,000 after buying an additional 32 shares during the last quarter. Parisi Gray Wealth Management grew its holdings in Palo Alto Networks by 2.2% during the fourth quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after buying an additional 33 shares in the last quarter. Howard Financial Services LTD. boosted its holdings in Palo Alto Networks by 3.4% during the 4th quarter. Howard Financial Services LTD. now owns 1,061 shares of the network technology company’s stock worth $313,000 after acquiring an additional 35 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its stake in shares of Palo Alto Networks by 20.5% in the 4th quarter. SJS Investment Consulting Inc. now owns 206 shares of the network technology company’s stock worth $61,000 after acquiring an additional 35 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

NASDAQ:PANW traded up $2.63 during mid-day trading on Friday, hitting $291.42. 2,245,297 shares of the company’s stock were exchanged, compared to its average volume of 5,423,290. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84. The business has a fifty day moving average price of $287.61 and a 200 day moving average price of $292.10. The company has a market cap of $94.16 billion, a PE ratio of 45.53, a P/E/G ratio of 4.00 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at $7,629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the sale, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,917 shares of company stock valued at $49,395,553. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PANW. Barclays cut their price target on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Oppenheimer increased their price objective on Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Sanford C. Bernstein assumed coverage on Palo Alto Networks in a research report on Thursday, January 18th. They set an “outperform” rating for the company. Rosenblatt Securities cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $290.00 to $265.00 in a research report on Wednesday, February 21st. Finally, Piper Sandler downgraded shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $350.00 to $300.00 in a report on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $314.82.

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.