Sfmg LLC Has $5.64 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sfmg LLC reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,647 shares of the network technology company’s stock after selling 177 shares during the period. Palo Alto Networks makes up approximately 0.5% of Sfmg LLC’s holdings, making the stock its 27th biggest holding. Sfmg LLC’s holdings in Palo Alto Networks were worth $5,643,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth $25,000. Frank Rimerman Advisors LLC bought a new position in Palo Alto Networks during the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. raised its stake 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 purchasing an additional 96 shares during the period. Ulland Investment Advisors LLC bought a new stake in shares of Palo Alto Networks in the first quarter valued at about $30,000. Finally, Central Bank & Trust Co. boosted its position in shares of Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $339.12, for a total value of $500,202.00. Following the sale, the president now owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Lee Klarich sold 125,866 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the completion of the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,075 shares of company stock worth $154,029,567. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PANW shares. Rosenblatt Securities upped their price target on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Finally, Daiwa Capital Markets initiated coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 target price on the stock. Thirteen investment 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 company. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $366.08.

Palo Alto Networks Stock Down 0.2 %

PANW stock opened at $343.52 on Wednesday. The business has a 50-day simple moving average of $336.56 and a 200 day simple moving average 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, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the firm earned $0.80 EPS. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. On average, analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Palo Alto Networks 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.