WealthShield Partners LLC decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 44.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,092 shares of the network technology company’s stock after selling 11,234 shares during the quarter. WealthShield Partners LLC’s holdings in Palo Alto Networks were worth $2,884,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Whipplewood Advisors LLC boosted its holdings in Palo Alto Networks by 6,400.0% during the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Briaud Financial Planning Inc bought a new position in shares of Palo Alto Networks during the 2nd quarter worth approximately $28,000. Dagco Inc. acquired a new stake in Palo Alto Networks in the 1st quarter valued at $33,000. Marshall & Sullivan Inc. WA acquired a new stake in Palo Alto Networks in the 2nd quarter valued at $41,000. Finally, Spurstone Advisory Services LLC acquired a new position in Palo Alto Networks during the second quarter worth $41,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.
Palo Alto Networks Stock Performance
NASDAQ:PANW opened at $205.25 on Friday. The company has a market cap of $140.39 billion, a price-to-earnings ratio of 127.88, a P/E/G ratio of 4.87 and a beta of 0.95. The stock’s fifty day moving average price is $209.07 and its two-hundred day moving average price is $197.06. Palo Alto Networks, Inc. has a 52-week low of $144.15 and a 52-week high of $223.61.
Analysts Set New Price Targets
PANW has been the topic of several recent analyst reports. Rosenblatt Securities reduced their target price on shares of Palo Alto Networks from $235.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Stephens reissued an “equal weight” rating and set a $205.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 19th. Robert W. Baird upped their price objective on shares of Palo Alto Networks from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday. BTIG Research raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating in a report on Monday, October 13th. Finally, Jefferies Financial Group restated a “buy” rating and set a $250.00 price target (up from $235.00) on shares of Palo Alto Networks in a research report on Tuesday. Twenty-nine analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Palo Alto Networks has an average rating of “Moderate Buy” and an average price target of $221.52.
Get Our Latest Analysis on Palo Alto Networks
Insider Transactions at Palo Alto Networks
In related news, CAO Josh D. Paul sold 700 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $219.97, for a total value of $153,979.00. Following the transaction, the chief accounting officer directly owned 47,505 shares in the company, valued at $10,449,674.85. This represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $217.94, for a total transaction of $26,321,485.56. Following the completion of the transaction, the executive vice president directly owned 356,409 shares in the company, valued at approximately $77,675,777.46. The trade was a 25.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,215,830 shares of company stock valued at $249,160,428. 2.50% of the stock is owned by company 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.
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