Oxler Private Wealth LLC Reduces Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Oxler Private Wealth LLC reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 82.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,320 shares of the network technology company’s stock after selling 6,300 shares during the period. Oxler Private Wealth LLC’s holdings in Palo Alto Networks were worth $389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Palo Alto Networks during the 4th quarter valued at $1,563,020,000. International Assets Investment Management LLC boosted its stake in shares of Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after purchasing an additional 2,050,917 shares in the last quarter. Jennison Associates LLC increased its position in shares of Palo Alto Networks by 83.1% during the fourth quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after buying an additional 1,187,915 shares during the period. Mirova US LLC bought a new position in Palo Alto Networks in the fourth quarter worth about $106,638,000. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Palo Alto Networks in the third quarter worth about $81,918,000. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of research analyst reports. Citigroup upped their target price on Palo Alto Networks from $335.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday. Loop Capital lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective for the company. in a research report on Wednesday, February 21st. Morgan Stanley restated an “overweight” rating and set a $360.00 target price on shares of Palo Alto Networks in a report on Tuesday. Capital One Financial cut shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target for the company. in a research report on Wednesday, February 21st. Finally, Scotiabank cut their price objective on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a report on Wednesday, February 21st. Twelve analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $317.45.

Palo Alto Networks Stock Down 1.0 %

PANW traded down $3.08 during midday trading on Wednesday, reaching $308.58. The company had a trading volume of 4,495,729 shares, compared to its average volume of 5,179,810. The business has a 50-day moving average of $288.74 and a two-hundred day moving average of $299.00. Palo Alto Networks, Inc. has a 1 year low of $188.83 and a 1 year high of $380.84. The company has a market cap of $99.70 billion, a P/E ratio of 44.81, a P/E/G ratio of 4.40 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 37.81%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the firm posted $0.38 EPS. The firm’s quarterly revenue was up 15.3% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 121,276 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the sale, the executive vice president now owns 166,542 shares in the company, valued at $49,895,983.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Lee Klarich sold 121,276 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the transaction, the executive vice president now owns 166,542 shares in the company, valued at $49,895,983.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the completion of the sale, the executive vice president now owns 1,295,567 shares in the company, valued at $373,434,232.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,193 shares of company stock worth $80,670,132. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks 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.