Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC cut its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 72.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,229 shares of the network technology company’s stock after selling 3,258 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PANW. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks in the first quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its stake in shares of Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the period. Ulland Investment Advisors LLC acquired a new stake in shares of Palo Alto Networks during the 1st quarter valued at approximately $30,000. Finally, Central Bank & Trust Co. raised its stake in shares of Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nikesh Arora sold 66,668 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $336.54, for a total value of $22,436,448.72. Following the transaction, the chief executive officer now owns 694,228 shares of the company’s stock, valued at $233,635,491.12. The disclosure for this sale can be found here. Insiders have sold 367,315 shares of company stock worth $118,696,590 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock traded up $14.11 during midday trading on Friday, hitting $331.48. 2,817,434 shares of the company were exchanged, compared to its average volume of 4,403,801. The firm has a 50 day simple moving average of $321.50 and a 200-day simple moving average of $311.40. Palo Alto Networks, Inc. has a 52 week low of $201.17 and a 52 week high of $380.84. The firm has a market cap of $107.33 billion, a P/E ratio of 47.22, a PEG ratio of 4.16 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS. Equities research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PANW shares. JPMorgan Chase & Co. increased their price target on shares of Palo Alto Networks from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Wedbush reaffirmed an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Daiwa Capital Markets began coverage on shares of Palo Alto Networks in a research report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price target for the company. KeyCorp reduced their target price on Palo Alto Networks from $384.00 to $380.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Finally, JMP Securities reiterated a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus price target of $325.71.

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.