Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Fiducient Advisors LLC

Fiducient Advisors LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,884 shares of the network technology company’s stock after selling 126 shares during the quarter. Palo Alto Networks comprises about 0.3% of Fiducient Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Fiducient Advisors LLC’s holdings in Palo Alto Networks were worth $1,735,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. GSG Advisors LLC raised its stake in shares of Palo Alto Networks by 1.0% during the fourth quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after purchasing an additional 51 shares in the last quarter. Spirit of America Management Corp NY raised its stake in shares of Palo Alto Networks by 50.0% during the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after purchasing an additional 100 shares in the last quarter. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Palo Alto Networks by 46.4% during the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock valued at $1,232,000 after purchasing an additional 1,325 shares in the last quarter. Truist Financial Corp raised its stake in shares of Palo Alto Networks by 148.9% during the third quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock valued at $44,497,000 after purchasing an additional 113,534 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in shares of Palo Alto Networks by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock valued at $32,143,000 after purchasing an additional 735 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now owns 25,812 shares in the company, valued at $7,230,715.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now owns 25,812 shares in the company, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Insiders sold 122,917 shares of company stock valued at $33,959,203 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded down $2.52 during trading hours on Tuesday, hitting $290.89. The stock had a trading volume of 3,170,945 shares, compared to its average volume of 5,366,852. The company has a market capitalization of $93.99 billion, a P/E ratio of 45.45, a P/E/G ratio of 3.96 and a beta of 1.19. The firm’s 50-day moving average price is $284.64 and its two-hundred day moving average price is $293.04. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the topic of a number of recent analyst reports. KeyCorp cut their price objective on shares of Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. JMP Securities reiterated a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Evercore ISI boosted their price target on shares of Palo Alto Networks from $315.00 to $405.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Rosenblatt Securities cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $290.00 to $265.00 in a research report on Wednesday, February 21st. Finally, Oppenheimer boosted their price target on shares of Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $314.82.

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.