GraniteShares Advisors LLC Sells 965 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

GraniteShares Advisors LLC lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 21.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,594 shares of the network technology company’s stock after selling 965 shares during the quarter. GraniteShares Advisors LLC’s holdings in Palo Alto Networks were worth $1,060,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. RB Capital Management LLC boosted its position in Palo Alto Networks by 19.9% during the first quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock valued at $375,000 after purchasing an additional 100 shares during the last quarter. Morgens Waterfall Vintiadis & Co. Inc. acquired a new position in Palo Alto Networks during the first quarter valued at approximately $6,910,000. United Bank boosted its position in Palo Alto Networks by 11.7% during the first quarter. United Bank now owns 2,822 shares of the network technology company’s stock valued at $1,757,000 after purchasing an additional 296 shares during the last quarter. Yousif Capital Management LLC boosted its position in Palo Alto Networks by 13.6% during the first quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock valued at $963,000 after purchasing an additional 185 shares during the last quarter. Finally, Prudential PLC acquired a new position in Palo Alto Networks during the first quarter valued at approximately $1,022,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Up 1.1 %

Shares of Palo Alto Networks stock traded up $2.87 during trading on Tuesday, hitting $275.02. The stock had a trading volume of 3,626,704 shares, compared to its average volume of 5,653,573. The firm has a market cap of $88.86 billion, a price-to-earnings ratio of 42.97, a P/E/G ratio of 3.80 and a beta of 1.19. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84. The business’s 50-day moving average is $302.23 and its 200 day moving average is $289.99.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. The firm had revenue of $1.98 billion for 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, equities analysts expect that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PANW. Stifel Nicolaus reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, March 13th. Citigroup raised their price objective on Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Loop Capital lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 target price on the stock. in a research note on Wednesday, February 21st. Scotiabank lowered their target price on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research note on Monday, January 29th. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $314.82.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now owns 198,105 shares in the company, valued at $67,955,958.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the sale, the president now directly owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the sale, the executive vice president now directly owns 198,105 shares in the company, valued at $67,955,958.15. The disclosure for this sale can be found here. Insiders have sold a total of 167,917 shares of company stock valued at $49,395,553 over the last 90 days. 3.30% of the stock is owned by insiders.

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.