Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 29.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,112 shares of the network technology company’s stock after selling 2,139 shares during the period. Tealwood Asset Management Inc.’s holdings in Palo Alto Networks were worth $1,747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after purchasing an additional 96 shares during the last quarter. Central Bank & Trust Co. lifted its holdings in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Cape Investment Advisory Inc. boosted its position in Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Finally, New England Capital Financial Advisors LLC grew its stake in Palo Alto Networks by 833.3% during the 1st quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after buying an additional 100 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PANW. Evercore ISI increased their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Royal Bank of Canada raised their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Susquehanna lifted their price target on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a report on Thursday, September 5th. Truist Financial increased their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities lifted their target price on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $370.51.

Insider Activity

In related news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,866 shares of company stock worth $88,620,447 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW stock traded up $16.01 on Tuesday, reaching $353.95. 1,220,517 shares of the company’s stock traded hands, compared to its average volume of 4,097,539. The business’s 50 day moving average price is $337.94 and its two-hundred day moving average price is $317.39. The company has a market capitalization of $114.61 billion, a P/E ratio of 51.44, a price-to-earnings-growth ratio of 4.82 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current 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.