Fiduciary Group LLC Sells 533 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Fiduciary Group LLC reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANWGet Rating) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,271 shares of the network technology company’s stock after selling 533 shares during the period. Fiduciary Group LLC’s holdings in Palo Alto Networks were worth $7,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PANW. RB Capital Management LLC increased 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. Metis Global Partners LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter worth about $363,000. Gladstone Institutional Advisory LLC increased its holdings in shares of Palo Alto Networks by 14.7% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 1,394 shares of the network technology company’s stock worth $868,000 after buying an additional 179 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Palo Alto Networks by 6.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 949 shares of the network technology company’s stock worth $591,000 after buying an additional 59 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Palo Alto Networks by 15.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 50,566 shares of the network technology company’s stock worth $31,478,000 after buying an additional 6,899 shares during the last quarter. 86.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler boosted their target price on shares of Palo Alto Networks from $216.67 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Guggenheim boosted their target price on shares of Palo Alto Networks from $208.33 to $213.33 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Palo Alto Networks from $209.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, November 18th. Royal Bank of Canada lifted their price target on shares of Palo Alto Networks from $226.67 to $233.33 in a research note on Tuesday, August 23rd. Finally, MKM Partners dropped their price target on shares of Palo Alto Networks from $250.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, November 15th. Five equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.86.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded up $1.43 during mid-day trading on Thursday, reaching $173.10. 2,921,689 shares of the company traded hands, compared to its average volume of 5,475,983. Palo Alto Networks, Inc. has a fifty-two week low of $140.07 and a fifty-two week high of $213.63. The company has a market capitalization of $52.00 billion, a price-to-earnings ratio of -350.87, a price-to-earnings-growth ratio of 7.07 and a beta of 1.12. The firm’s fifty day moving average is $161.77 and its two-hundred day moving average is $208.62.

Palo Alto Networks (NASDAQ:PANWGet Rating) last released its quarterly earnings data on Monday, August 22nd. The network technology company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.07 by $0.08. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. Palo Alto Networks had a negative net margin of 2.46% and a negative return on equity of 5.02%. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) EPS. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 0.77 earnings per share for the current year.

Insider Activity

In other news, Director James J. Goetz sold 76,822 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $174.77, for a total value of $13,426,180.94. Following the sale, the director now directly owns 384,113 shares of the company’s stock, valued at approximately $67,131,429.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Palo Alto Networks news, CEO Nikesh Arora sold 12,500 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $554.56, for a total transaction of $6,932,000.00. Following the transaction, the chief executive officer now directly owns 462,514 shares of the company’s stock, valued at $256,491,763.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James J. Goetz sold 76,822 shares of the stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $174.77, for a total transaction of $13,426,180.94. Following the transaction, the director now directly owns 384,113 shares in the company, valued at $67,131,429.01. The disclosure for this sale can be found here. Insiders have sold 189,477 shares of company stock valued at $37,164,206 in the last ninety days. Insiders own 3.90% of the company’s stock.

About Palo Alto Networks

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Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; Panorama, a security management solution for the control of firewall appliances and software deployed on a customer's network, as well as their instances in public or private cloud environments, as a virtual or a physical appliance; and virtual system upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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