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

Hollow Brook Wealth Management LLC lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 50.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,434 shares of the network technology company’s stock after selling 2,466 shares during the quarter. Hollow Brook Wealth Management LLC’s holdings in Palo Alto Networks were worth $718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oak Thistle LLC purchased a new position in shares of Palo Alto Networks during the 3rd quarter valued at about $235,000. U.S. Capital Wealth Advisors LLC raised its stake in shares of Palo Alto Networks by 104.7% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 4,098 shares of the network technology company’s stock valued at $961,000 after buying an additional 2,096 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Palo Alto Networks by 1,166.4% during the 3rd quarter. Brookstone Capital Management now owns 15,552 shares of the network technology company’s stock valued at $3,937,000 after buying an additional 14,324 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Palo Alto Networks by 4.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 218,060 shares of the network technology company’s stock valued at $51,122,000 after buying an additional 9,075 shares during the last quarter. Finally, Deltec Asset Management LLC purchased a new position in shares of Palo Alto Networks during the 3rd quarter valued at about $703,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.9 %

Shares of PANW traded down $2.52 during mid-day trading on Tuesday, hitting $290.89. 3,170,945 shares of the company’s stock were exchanged, compared to its average volume of 5,366,852. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84. The firm has a market capitalization of $93.99 billion, a P/E ratio of 45.45, a P/E/G ratio of 3.96 and a beta of 1.19. The business’s 50 day moving average is $284.64 and its two-hundred day moving average is $293.04.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Friday, April 5th. The shares were 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 sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction 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 approximately $46,659,063. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,917 shares of company stock valued at $33,959,203. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PANW. Wedbush lifted their price objective on Palo Alto Networks from $350.00 to $425.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Truist Financial lifted their price target on Palo Alto Networks from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Scotiabank cut their price target on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 21st. BMO Capital Markets cut their price target on Palo Alto Networks from $378.00 to $327.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Finally, Evercore ISI lifted their price target on Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Eleven investment 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 stock has a consensus rating of “Moderate Buy” and an average price target of $314.82.

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.