Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% during the 4th quarter, HoldingsChannel reports. The firm owned 8,635 shares of the network technology company’s stock after selling 554 shares during the period. SVB Wealth LLC’s holdings in Palo Alto Networks were worth $2,546,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. RB Capital Management LLC raised its holdings in Palo Alto Networks by 19.9% in the 1st quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock valued at $375,000 after acquiring an additional 100 shares during the last quarter. Morgens Waterfall Vintiadis & Co. Inc. purchased a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $6,910,000. United Bank grew its position in shares of Palo Alto Networks by 11.7% in the first quarter. United Bank now owns 2,822 shares of the network technology company’s stock valued at $1,757,000 after purchasing an additional 296 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of Palo Alto Networks by 13.6% in the first quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock valued at $963,000 after purchasing an additional 185 shares during the last quarter. Finally, Prudential PLC purchased a new position in Palo Alto Networks during the first quarter worth approximately $1,022,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 0.8 %

Shares of NASDAQ:PANW opened at $277.33 on Thursday. The company has a market cap of $89.61 billion, a PE ratio of 43.33, a P/E/G ratio of 3.75 and a beta of 1.19. The company’s 50 day moving average is $299.16 and its two-hundred day moving average is $290.18. 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 posted its quarterly earnings results 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. The company had revenue of $1.98 billion for 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, equities research analysts expect that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at $67,955,958.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the completion of the sale, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, 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. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PANW. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Palo Alto Networks in a report on Wednesday, February 21st. Sanford C. Bernstein started coverage on shares of Palo Alto Networks in a research report on Thursday, January 18th. They set an “outperform” rating for the company. Mizuho decreased their target price on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Wedbush increased their price target on shares of Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Evercore ISI lifted their price target on shares of Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $315.46.

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.