Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Stokes Family Office LLC

Stokes Family Office LLC reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,135 shares of the network technology company’s stock after selling 136 shares during the period. Stokes Family Office LLC’s holdings in Palo Alto Networks were worth $335,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PANW. Webster Bank N. A. raised its holdings in shares of Palo Alto Networks by 607.1% during the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares during the period. Cedar Mountain Advisors LLC increased its holdings in shares of Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 47 shares during the last quarter. MV Capital Management Inc. raised its position in shares of Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 29 shares during the period. Byrne Asset Management LLC grew its position in shares of Palo Alto Networks by 277.8% in the third quarter. Byrne Asset Management LLC now owns 136 shares of the network technology company’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Alaska Permanent Fund Corp bought a new position in Palo Alto Networks during the fourth quarter worth $42,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PANW. Royal Bank of Canada increased their target price on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Evercore ISI lifted their target price on Palo Alto Networks from $315.00 to $405.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Oppenheimer upped their target price on shares of Palo Alto Networks from $305.00 to $330.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Capital One Financial downgraded shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 target price for the company. in a research report on Wednesday, February 21st. Finally, Redburn Atlantic boosted their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

Insider Buying and Selling

In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the sale, the executive vice president now owns 198,105 shares of the company’s stock, valued at $56,327,194.65. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, March 11th. The shares were sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $56,327,194.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the transaction, the executive vice president now directly owns 1,295,567 shares in the company, valued at $373,434,232.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,917 shares of company stock valued at $44,335,843. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 0.3 %

NASDAQ:PANW traded up $0.89 during midday trading on Friday, reaching $296.21. The company had a trading volume of 3,438,974 shares, compared to its average volume of 3,429,938. Palo Alto Networks, Inc. has a 12-month low of $177.09 and a 12-month high of $380.84. The firm has a market capitalization of $95.71 billion, a price-to-earnings ratio of 46.28, a PEG ratio of 4.01 and a beta of 1.18. The stock’s fifty day simple moving average is $285.70 and its 200-day simple moving average is $293.01.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.22. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. As a group, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

About Palo Alto Networks

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.