Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Roman Butler Fullerton & Co.

Roman Butler Fullerton & Co. trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,569 shares of the network technology company’s stock after selling 375 shares during the quarter. Palo Alto Networks makes up approximately 1.1% of Roman Butler Fullerton & Co.’s investment portfolio, making the stock its 22nd largest position. Roman Butler Fullerton & Co.’s holdings in Palo Alto Networks were worth $2,822,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Palo Alto Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock valued at $6,215,410,000 after purchasing an additional 304,272 shares during the last quarter. Norges Bank acquired a new position in Palo Alto Networks in the 4th quarter valued at $751,276,000. Northern Trust Corp raised its stake in Palo Alto Networks by 2.6% in the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock valued at $804,199,000 after purchasing an additional 86,995 shares during the last quarter. Geode Capital Management LLC raised its stake in Palo Alto Networks by 2.8% in the 1st quarter. Geode Capital Management LLC now owns 3,376,601 shares of the network technology company’s stock valued at $673,731,000 after purchasing an additional 92,760 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Palo Alto Networks by 29,086.9% in 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 during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Rosenblatt Securities downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their target price for the stock from $290.00 to $265.00 in a research note on Wednesday, February 21st. Royal Bank of Canada raised their target price on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Redburn Atlantic raised their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Oppenheimer raised their target price on Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Monday, January 29th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.82.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the sale, the executive vice president now directly owns 174,075 shares in the company, valued at $46,659,063. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at $46,659,063. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,917 shares of company stock worth $49,395,553. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Price Performance

PANW traded up $1.74 during trading on Thursday, reaching $279.07. 462,248 shares of the stock were exchanged, compared to its average volume of 5,548,797. The business’s 50 day moving average price is $299.16 and its two-hundred day moving average price is $290.18. The company has a market capitalization of $90.17 billion, a price-to-earnings ratio of 43.33, a P/E/G ratio of 3.75 and a beta of 1.19. Palo Alto Networks, Inc. has a 1 year low of $176.30 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. On average, analysts anticipate that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

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.