Loomis Sayles & Co. L P Sells 39,660 Shares of Palo Alto Networks, Inc. $PANW

Loomis Sayles & Co. L P lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 99.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 176 shares of the network technology company’s stock after selling 39,660 shares during the period. Loomis Sayles & Co. L P’s holdings in Palo Alto Networks were worth $36,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PANW. Brighton Jones LLC raised its holdings in Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock valued at $1,230,000 after buying an additional 4,031 shares during the last quarter. Bison Wealth LLC increased its position in Palo Alto Networks by 169.1% in the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock valued at $948,000 after acquiring an additional 3,275 shares during the period. XTX Topco Ltd bought a new position in shares of Palo Alto Networks during the first quarter valued at $316,000. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Palo Alto Networks by 58.9% during the first quarter. Strategic Investment Solutions Inc. IL now owns 224 shares of the network technology company’s stock worth $38,000 after purchasing an additional 83 shares during the period. Finally, Advyzon Investment Management LLC bought a new stake in shares of Palo Alto Networks in the first quarter worth $188,000. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $217.94, for a total value of $26,321,485.56. Following the transaction, the executive vice president owned 356,409 shares in the company, valued at approximately $77,675,777.46. This represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $189.39, for a total value of $132,573.00. Following the completion of the sale, the chief accounting officer directly owned 46,805 shares of the company’s stock, valued at $8,864,398.95. This trade represents a 1.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,095,056 shares of company stock valued at $226,082,942. 1.40% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Performance

Shares of PANW opened at $189.88 on Wednesday. The firm has a market cap of $132.35 billion, a PE ratio of 120.18, a price-to-earnings-growth ratio of 4.44 and a beta of 0.79. Palo Alto Networks, Inc. has a 52-week low of $144.15 and a 52-week high of $223.61. The business’s 50 day moving average price is $206.33 and its two-hundred day moving average price is $197.23.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the firm posted $1.56 EPS. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Research analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on PANW shares. Rosenblatt Securities raised their target price on Palo Alto Networks from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Scotiabank raised their price objective on Palo Alto Networks from $225.00 to $228.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 19th. HSBC cut Palo Alto Networks from a “hold” rating to a “reduce” rating and set a $157.00 target price on the stock. in a report on Thursday, November 20th. Evercore ISI increased their target price on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Finally, Truist Financial set a $220.00 price target on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Tuesday, August 19th. Thirty equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $225.09.

Palo Alto Networks 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.