Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,141 shares of the network technology company’s stock after selling 3,499 shares during the quarter. Palo Alto Networks comprises 1.0% of Desjardins Global Asset Management Inc.’s holdings, making the stock its 16th largest holding. Desjardins Global Asset Management Inc.’s holdings in Palo Alto Networks were worth $9,183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Worth Asset Management LLC purchased a new position in shares of Palo Alto Networks during the first quarter worth $26,000. First Pacific Financial boosted its position in shares of Palo Alto Networks by 421.7% during the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after buying an additional 97 shares during the period. Pin Oak Investment Advisors Inc. purchased a new position in shares of Palo Alto Networks during the second quarter worth $28,000. Fortis Capital Advisors LLC purchased a new position in shares of Palo Alto Networks during the fourth quarter worth $28,000. Finally, Webster Bank N. A. boosted its position in shares of Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the sale, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 1,050 shares of the company’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 value 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 approximately $7,629,160. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

PANW traded up $3.02 during trading on Tuesday, reaching $275.17. The company’s stock had a trading volume of 2,293,000 shares, compared to its average volume of 5,634,458. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84. The company’s fifty day moving average price is $302.23 and its 200-day moving average price is $289.99. The company has a market capitalization of $88.91 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 3.80 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.97 billion. Equities analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Analyst Ratings Changes

PANW has been the subject of several research analyst reports. Mizuho lowered their price target on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Raymond James lowered Palo Alto Networks from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. Oppenheimer decreased their target price on Palo Alto Networks from $310.00 to $305.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Piper Sandler lowered Palo Alto Networks from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $350.00 to $300.00 in a report on Wednesday, February 21st. Finally, Susquehanna decreased their target price on Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a report on Monday, February 26th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus 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.