Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Wealth Quarterback LLC

Wealth Quarterback LLC reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,315 shares of the network technology company’s stock after selling 33 shares during the quarter. Palo Alto Networks comprises approximately 0.8% of Wealth Quarterback LLC’s investment portfolio, making the stock its 27th largest position. Wealth Quarterback LLC’s holdings in Palo Alto Networks were worth $1,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC boosted its position in Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after acquiring an additional 30 shares during the last quarter. FLC Capital Advisors boosted its holdings in shares of Palo Alto Networks by 0.7% during the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after purchasing an additional 30 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after purchasing an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton increased its holdings in shares of Palo Alto Networks by 9.4% in the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after purchasing an additional 30 shares during the last quarter. Finally, Geneva Partners LLC increased its holdings in shares of Palo Alto Networks by 0.3% in the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity

In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 255,252 shares of company stock worth $89,383,077. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $391.40 on Friday. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $393.21. The firm has a market capitalization of $127.44 billion, a PE ratio of 53.99, a price-to-earnings-growth ratio of 5.59 and a beta of 1.12. The business’s fifty day moving average price is $355.13 and its 200 day moving average price is $332.47.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several analyst reports. BNP Paribas started coverage on Palo Alto Networks in a report on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 target price for the company. Stifel Nicolaus raised their price objective on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Piper Sandler increased their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Scotiabank lifted their price target on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $378.49.

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.