Prairie Wealth Advisors Inc. Sells 185 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Prairie Wealth Advisors Inc. cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 18.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 819 shares of the network technology company’s stock after selling 185 shares during the quarter. Prairie Wealth Advisors Inc.’s holdings in Palo Alto Networks were worth $278,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PANW. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company’s stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares during the last quarter. Axiom Investors LLC DE increased its position in shares of Palo Alto Networks by 359.3% during the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after purchasing an additional 749,199 shares in the last quarter. Swedbank AB purchased a new stake in Palo Alto Networks in the 1st quarter valued at $177,933,000. Altshuler Shaham Ltd grew its holdings in Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after buying an additional 444,100 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in Palo Alto Networks by 63.8% in the 4th quarter. 1832 Asset Management L.P. now owns 640,755 shares of the network technology company’s stock valued at $188,946,000 after buying an additional 249,455 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PANW shares. Oppenheimer upped their target price on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their price target on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Susquehanna increased their price target on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Wells Fargo & Company increased their price target on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. increased their price target on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $343.52 on Wednesday. The stock has a fifty day moving average price of $336.56 and a 200 day moving average price of $314.43. The stock has a market cap of $111.85 billion, a PE ratio of 49.93, a P/E/G ratio of 4.99 and a beta of 1.13. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 earnings per share. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at $8,443,916. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Nikesh Arora sold 66,668 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $336.54, for a total value of $22,436,448.72. Following the completion of the transaction, the chief executive officer now directly owns 694,228 shares of the company’s stock, valued at $233,635,491.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at $8,443,916. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 464,075 shares of company stock valued at $154,029,567. 3.30% of the stock is owned by insiders.

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.