Palo Alto Networks, Inc. $PANW Shares Sold by Morningstar Investment Management LLC

Morningstar Investment Management LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 81.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,572 shares of the network technology company’s stock after selling 37,507 shares during the quarter. Morningstar Investment Management LLC’s holdings in Palo Alto Networks were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Darwin Wealth Management LLC acquired a new stake in Palo Alto Networks during the second quarter worth about $25,000. Steph & Co. increased its stake in Palo Alto Networks by 88.2% during the fourth quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after acquiring an additional 67 shares during the last quarter. Knuff & Co LLC acquired a new stake in Palo Alto Networks during the fourth quarter worth about $26,000. Luken Investment Analytics LLC increased its stake in Palo Alto Networks by 196.2% during the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock worth $28,000 after acquiring an additional 102 shares during the last quarter. Finally, WHI TRUST Co LLC acquired a new stake in Palo Alto Networks during the fourth quarter worth about $28,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PANW shares. Deutsche Bank Aktiengesellschaft dropped their price target on Palo Alto Networks from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Wells Fargo & Company upped their price target on Palo Alto Networks from $235.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Needham & Company LLC dropped their price target on Palo Alto Networks from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Argus upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Friday, February 20th. Finally, HSBC dropped their price target on Palo Alto Networks from $157.00 to $114.00 in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $226.33.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 400 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $236.95, for a total value of $94,780.00. Following the completion of the sale, the chief accounting officer owned 82,736 shares in the company, valued at approximately $19,604,295.20. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Key sold 1,572 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total value of $272,459.04. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $3,466,400. This trade represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 30,756 shares of company stock valued at $5,076,355. Company insiders own 1.40% of the company’s stock.

Palo Alto Networks Stock Performance

PANW stock opened at $260.58 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $261.41. The firm has a market cap of $212.63 billion, a P/E ratio of 143.97, a price-to-earnings-growth ratio of 9.39 and a beta of 0.77. The stock has a 50-day simple moving average of $185.14 and a 200-day simple moving average of $182.38.

About Palo Alto Networks

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.