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

Omnia Family Wealth LLC reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,318 shares of the network technology company’s stock after selling 480 shares during the quarter. Omnia Family Wealth LLC’s holdings in Palo Alto Networks were worth $225,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL grew 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 buying an additional 55 shares in the last quarter. JDM Financial Group LLC grew its holdings in Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after buying an additional 59 shares in the last quarter. Adero Partners LLC grew its holdings in Palo Alto Networks by 4.3% in the 1st quarter. Adero Partners LLC now owns 1,556 shares of the network technology company’s stock valued at $266,000 after buying an additional 64 shares in the last quarter. Snider Financial Group grew its holdings in Palo Alto Networks by 0.4% in the 1st quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock valued at $3,025,000 after buying an additional 65 shares in the last quarter. Finally, Grimes & Company Inc. grew its holdings in Palo Alto Networks by 5.3% in the 1st quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company’s stock valued at $224,000 after buying an additional 66 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on PANW shares. Morgan Stanley dropped their target price on Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company upped their price target on Palo Alto Networks from $225.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price target on Palo Alto Networks and gave the company an “outperform” rating in a research note on Wednesday, May 21st. Stephens lowered Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, Northland Securities decreased their price target on Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $208.00.

Palo Alto Networks Stock Performance

PANW opened at $204.30 on Thursday. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The company has a market cap of $136.23 billion, a P/E ratio of 116.74, a PEG ratio of 5.63 and a beta of 0.97. The business’s 50-day simple moving average is $189.35 and its 200-day simple moving average is $185.33.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. As a group, analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. This trade represents a 27.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the transaction, the executive vice president now owns 101,135 shares in the company, valued at $20,414,099.75. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 795,536 shares of company stock worth $141,007,618. 2.50% of the stock is currently owned by insiders.

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.