Dynamic Advisor Solutions LLC lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 40.1% during the second quarter, Holdings Channel reports. The fund owned 18,998 shares of the network technology company’s stock after selling 12,725 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Palo Alto Networks were worth $6,479,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Darwin Wealth Management LLC acquired a new position in shares of Palo Alto Networks during the second quarter valued at about $25,000. Steph & Co. raised its stake in Palo Alto Networks by 88.2% during the 4th quarter. Steph & Co. now owns 143 shares of the network technology company’s stock worth $26,000 after buying an additional 67 shares during the period. Knuff & Co LLC acquired a new position in Palo Alto Networks during the 4th quarter worth approximately $26,000. Sittner & Nelson LLC grew its stake in Palo Alto Networks by 73.8% in the fourth quarter. Sittner & Nelson LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after acquiring an additional 62 shares during the period. Finally, Luken Investment Analytics LLC grew its stake in Palo Alto Networks by 196.2% in the fourth quarter. Luken Investment Analytics LLC now owns 154 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 102 shares during the period. 79.82% of the stock is owned by institutional investors.
Palo Alto Networks Stock Down 0.9%
Shares of NASDAQ:PANW opened at $359.49 on Friday. Palo Alto Networks, Inc. has a 1 year low of $139.57 and a 1 year high of $376.98. The company has a market capitalization of $292.98 billion, a PE ratio of 294.66, a price-to-earnings-growth ratio of 12.19 and a beta of 0.91. The business has a fifty day moving average price of $316.24 and a two-hundred day moving average price of $227.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86.
Analyst Ratings Changes
PANW has been the topic of a number of research reports. Mizuho upped their target price on Palo Alto Networks from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Rosenblatt Securities lifted their price target on shares of Palo Alto Networks from $275.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. Evercore restated an “outperform” rating and set a $415.00 price target on shares of Palo Alto Networks in a research note on Wednesday, July 8th. Weiss Ratings downgraded shares of Palo Alto Networks from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Citigroup reaffirmed a “buy” rating and issued a $400.00 price objective (up from $340.00) on shares of Palo Alto Networks in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, forty have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $333.76.
Get Our Latest Stock Report on Palo Alto Networks
Insiders Place Their Bets
In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $289.56, for a total transaction of $1,447,800.00. Following the completion of the transaction, the executive vice president directly owned 145,250 shares of the company’s stock, valued at approximately $42,058,590. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aparna Bawa sold 290 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $348.74, for a total value of $101,134.60. Following the completion of the sale, the director directly owned 6,437 shares of the company’s stock, valued at $2,244,839.38. This represents a 4.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 101,239 shares of company stock valued at $27,174,360. Company insiders own 1.40% of the company’s stock.
Palo Alto Networks Profile
Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.
The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.
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