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

Transform Wealth LLC lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,359 shares of the network technology company’s stock after selling 281 shares during the period. Transform Wealth LLC’s holdings in Palo Alto Networks were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PANW. Transce3nd LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at about $25,000. Strategic Investment Solutions Inc. IL boosted its holdings in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Kiely Wealth Advisory Group Inc. boosted its holdings in Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 75 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Palo Alto Networks by 102.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the transaction, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at $48,629,704.62. This trade represents a 27.29% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 789,736 shares of company stock worth $139,837,528. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

PANW has been the topic of several recent research reports. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective on the stock in a research report on Thursday, April 10th. TD Securities reiterated a “buy” rating and set a $230.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $235.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 20th. JPMorgan Chase & Co. cut their price objective on Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating on the stock in a report on Wednesday, May 21st. Finally, UBS Group raised their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $208.00.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $194.39 on Thursday. The stock has a fifty day moving average price of $182.38 and a two-hundred day moving average price of $185.09. The firm has a market cap of $129.62 billion, a P/E ratio of 109.52, a PEG ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.