Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Jackson Wealth Management LLC

Jackson Wealth Management LLC reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,954 shares of the network technology company’s stock after selling 226 shares during the quarter. Jackson Wealth Management LLC’s holdings in Palo Alto Networks were worth $2,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Transce3nd LLC purchased a new stake in Palo Alto Networks in the 4th quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after buying an additional 55 shares in the last quarter. Anchor Investment Management LLC lifted its stake in Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. lifted its stake in Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after buying an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in Palo Alto Networks in the 4th quarter valued at approximately $29,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $201.50 on Friday. The firm has a 50-day moving average of $193.80 and a two-hundred day moving average of $185.42. The stock has a market cap of $134.36 billion, a P/E ratio of 115.14, a PEG ratio of 5.63 and a beta of 0.97. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 EPS. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the transaction, the executive vice president owned 3,343,516 shares of the company’s stock, valued at approximately $646,502,253.76. This trade represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president directly owned 321,774 shares in the company, valued at $48,629,704.62. The trade was a 27.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 668,722 shares of company stock worth $121,714,798. 2.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PANW shares. Cantor Fitzgerald reissued an “overweight” rating and set a $223.00 price target on shares of Palo Alto Networks in a research note on Monday, May 19th. Stephens lowered Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $235.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Jefferies Financial Group increased their price target on Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company increased their price target on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.00.

Check Out Our Latest Report on Palo Alto Networks

About Palo Alto Networks

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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