Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Strategic Global Advisors LLC

Strategic Global Advisors LLC trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,064 shares of the network technology company’s stock after selling 1,669 shares during the period. Strategic Global Advisors LLC’s holdings in Palo Alto Networks were worth $2,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. boosted its holdings in Palo Alto Networks by 73.3% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 13,026 shares of the network technology company’s stock worth $2,630,000 after buying an additional 5,509 shares in the last quarter. Strive Asset Management LLC acquired a new position in shares of Palo Alto Networks in the fourth quarter worth about $328,000. Toronto Dominion Bank boosted its stake in shares of Palo Alto Networks by 86.6% during the 4th quarter. Toronto Dominion Bank now owns 227,913 shares of the network technology company’s stock worth $41,471,000 after acquiring an additional 105,766 shares in the last quarter. Scientech Research LLC grew its position in shares of Palo Alto Networks by 85.6% during the 4th quarter. Scientech Research LLC now owns 9,928 shares of the network technology company’s stock valued at $1,806,000 after acquiring an additional 4,579 shares during the period. Finally, Snowden Capital Advisors LLC grew its position in shares of Palo Alto Networks by 102.7% during the 4th quarter. Snowden Capital Advisors LLC now owns 66,049 shares of the network technology company’s stock valued at $12,018,000 after acquiring an additional 33,465 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 227,414 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the sale, the chief executive officer now owns 317,571 shares in the company, valued at approximately $54,854,038.83. This trade represents a 41.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares of the company’s stock, valued at approximately $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 568,962 shares of company stock valued at $96,933,690 over the last 90 days. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

PANW opened at $192.98 on Friday. The business’s 50 day moving average price is $177.37 and its 200 day moving average price is $185.13. The stock has a market capitalization of $127.77 billion, a PE ratio of 108.72, a P/E/G ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PANW shares. UBS Group upped their price target on Palo Alto Networks from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Hsbc Global Res upgraded Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 10th. Susquehanna increased their target price on Palo Alto Networks from $217.50 to $230.00 and gave the company a “positive” rating in a research report on Tuesday, February 18th. Scotiabank lifted their price target on shares of Palo Alto Networks from $200.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, Westpark Capital restated a “hold” rating and set a $196.40 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong 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 price target of $203.46.

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.