Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Lowered by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,786 shares of the network technology company’s stock after selling 90 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Palo Alto Networks were worth $2,979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PANW. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. raised 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 in the last quarter. Ulland Investment Advisors LLC purchased a new position in shares of Palo Alto Networks in the first quarter worth approximately $30,000. Finally, Central Bank & Trust Co. increased its position in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PANW has been the topic of several analyst reports. Rosenblatt Securities lifted their target price on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Piper Sandler lifted their target price on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Daiwa America raised shares of Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Royal Bank of Canada boosted their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, UBS Group boosted their price objective on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $343.52 on Wednesday. Palo Alto Networks, Inc. has a fifty-two week low of $224.64 and a fifty-two week high of $380.84. The firm has a fifty day moving average price of $336.56 and a two-hundred day moving average price of $314.43. The company has a market cap of $111.85 billion, a PE ratio of 49.93, a price-to-earnings-growth ratio of 4.99 and a beta of 1.13.

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

Insider Transactions at Palo Alto Networks

In other news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the transaction, the president now directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares in the company, valued at approximately $219,505,142.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the sale, the president now owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. In the last three months, insiders sold 464,075 shares of company stock valued at $154,029,567. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Company 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.