180 Wealth Advisors LLC Reduces Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

180 Wealth Advisors LLC decreased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 36.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 792 shares of the network technology company’s stock after selling 453 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mutual Advisors LLC boosted its holdings in Palo Alto Networks by 16.3% during the 3rd quarter. Mutual Advisors LLC now owns 3,499 shares of the network technology company’s stock valued at $820,000 after acquiring an additional 490 shares during the period. Trexquant Investment LP purchased a new position in Palo Alto Networks during the 3rd quarter valued at $2,312,000. Qube Research & Technologies Ltd purchased a new position in Palo Alto Networks during the 3rd quarter valued at $3,394,000. Teza Capital Management LLC boosted its holdings in Palo Alto Networks by 17.8% during the 3rd quarter. Teza Capital Management LLC now owns 4,666 shares of the network technology company’s stock valued at $1,094,000 after acquiring an additional 705 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Palo Alto Networks during the 3rd quarter valued at $9,037,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analyst Ratings Changes

PANW has been the subject of a number of recent analyst reports. KeyCorp boosted their price objective on Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Redburn Atlantic lifted their target price on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Argus lifted their target price on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the sale, the executive vice president now owns 174,075 shares in the company, valued at $46,659,063. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was 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 owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total value of $99,820.00. Following the completion of the transaction, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The disclosure for this sale can be found here. Insiders have sold 258,182 shares of company stock worth $74,850,597 over the last quarter. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $339.01 on Friday. The business’s 50-day simple moving average is $307.06 and its two-hundred day simple moving average is $307.14. The company has a market cap of $109.77 billion, a PE ratio of 49.27, a PEG ratio of 5.22 and a beta of 1.10. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the business earned $0.38 EPS. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

About Palo Alto Networks

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.