Nicholas Hoffman & Company LLC. Sells 122 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Nicholas Hoffman & Company LLC. trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,402 shares of the network technology company’s stock after selling 122 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Palo Alto Networks were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Horizon Family Wealth Inc. boosted its stake in shares of Palo Alto Networks by 1.1% in the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after buying an additional 28 shares during the period. MV Capital Management Inc. grew its position in shares of Palo Alto Networks by 37.2% during the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after acquiring an additional 29 shares during the last quarter. Manchester Capital Management LLC raised its position in Palo Alto Networks by 17.2% in the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after purchasing an additional 30 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Palo Alto Networks by 15.9% during the fourth quarter. Quent Capital LLC now owns 233 shares of the network technology company’s stock worth $69,000 after buying an additional 32 shares during the period. Finally, Parisi Gray Wealth Management lifted its position in Palo Alto Networks by 2.2% during the 4th quarter. Parisi Gray Wealth Management now owns 1,519 shares of the network technology company’s stock worth $448,000 after acquiring an additional 33 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on 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 sale, the executive vice president now owns 174,075 shares of the company’s stock, valued at $46,659,063. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the transaction, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold 122,917 shares of company stock worth $33,959,203 over the last quarter. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

PANW stock traded down $2.52 during mid-day trading on Tuesday, hitting $290.89. 3,170,945 shares of the stock were exchanged, compared to its average volume of 5,366,852. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84. The stock has a market capitalization of $93.99 billion, a price-to-earnings ratio of 45.45, a PEG ratio of 3.96 and a beta of 1.19. The business has a fifty day moving average price of $284.64 and a 200 day moving average price of $293.04.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 2.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PANW. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Redburn Atlantic lifted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Scotiabank dropped their target price on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Finally, Susquehanna reduced their price objective on Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a research note on Monday, February 26th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

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.