180 Wealth Advisors LLC Sells 453 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

180 Wealth Advisors LLC cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 36.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792 shares of the network technology company’s stock after selling 453 shares during the period. 180 Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PANW. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. grew its position 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 valued at $28,000 after buying an additional 96 shares during the last quarter. Webster Bank N. A. boosted its position in shares of Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC boosted its position in shares of Palo Alto Networks by 87.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. Finally, Central Bank & Trust Co. boosted its position in shares of Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.5 %

NASDAQ PANW opened at $339.01 on Friday. The stock has a 50-day moving average of $307.06 and a 200-day moving average of $307.14. The firm has a market cap of $109.77 billion, a PE ratio of 49.27, a price-to-earnings-growth ratio of 5.22 and a beta of 1.10. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84.

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

Analyst Ratings Changes

PANW has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their target price on Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Susquehanna increased their price target on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a report on Tuesday, May 21st. Wedbush reiterated an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 21st. Redburn Atlantic increased their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Macquarie increased their price objective on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Twelve investment 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $326.29.

Insider Buying and Selling

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $306.92, for a total transaction of $497,517.32. Following the sale, the president now directly owns 20,501 shares in the company, valued at approximately $6,292,166.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Palo Alto Networks news, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $310.00, for a total transaction of $99,820.00. Following the sale, the director now directly owns 3,767 shares of the company’s stock, valued at $1,167,770. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,621 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the sale, the president now directly owns 20,501 shares in the company, valued at $6,292,166.92. The disclosure for this sale can be found here. Insiders have sold 258,182 shares of company stock worth $74,850,597 in the last 90 days. Insiders own 3.30% of the company’s stock.

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.