Palo Alto Networks, Inc. (NASDAQ:PANW) Holdings Decreased by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,976 shares of the network technology company’s stock after selling 1,070 shares during the period. Weatherly Asset Management L. P.’s holdings in Palo Alto Networks were worth $5,077,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks in the first quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. lifted its position in Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in shares of Palo Alto Networks during the 1st quarter valued at $30,000. Finally, Central Bank & Trust Co. grew its holdings in shares of Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

Shares of PANW stock traded up $4.51 during mid-day trading on Friday, reaching $362.72. The company’s stock had a trading volume of 2,988,576 shares, compared to its average volume of 3,892,995. The firm’s 50-day moving average is $333.84 and its two-hundred day moving average is $310.72. The company has a market cap of $117.45 billion, a P/E ratio of 52.72, a PEG ratio of 4.82 and a beta of 1.14. Palo Alto Networks, Inc. has a 1-year low of $224.64 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Analyst Ratings Changes

PANW has been the subject of several recent research reports. Rosenblatt Securities increased their price objective on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. The Goldman Sachs Group boosted their price target on Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Scotiabank raised their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a research report on Monday, August 19th. Finally, Truist Financial raised their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $364.08.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $293.31, for a total value of $10,559,160.00. Following the sale, the executive vice president now directly owns 1,259,567 shares in the company, valued at $369,443,596.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $293.31, for a total value of $10,559,160.00. Following the transaction, the executive vice president now directly owns 1,259,567 shares in the company, valued at $369,443,596.77. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the sale, the president now directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 376,372 shares of company stock valued at $121,925,593. Corporate insiders own 3.30% of the company’s stock.

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.