Prevail Innovative Wealth Advisors LLC Sells 10,684 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Prevail Innovative Wealth Advisors LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 87.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,476 shares of the network technology company’s stock after selling 10,684 shares during the quarter. Prevail Innovative Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $500,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. lifted its holdings in shares of Palo Alto Networks by 41.0% during the second quarter. Meeder Advisory Services Inc. now owns 6,032 shares of the network technology company’s stock worth $2,045,000 after buying an additional 1,754 shares during the last quarter. Abbrea Capital LLC lifted its holdings in shares of Palo Alto Networks by 11.5% during the second quarter. Abbrea Capital LLC now owns 938 shares of the network technology company’s stock worth $318,000 after buying an additional 97 shares during the last quarter. Stonebridge Financial Planning Group LLC acquired a new position in shares of Palo Alto Networks during the second quarter worth approximately $208,000. D Orazio & Associates Inc. acquired a new position in shares of Palo Alto Networks during the second quarter worth approximately $219,000. Finally, Private Wealth Partners LLC lifted its holdings in shares of Palo Alto Networks by 47.1% during the second quarter. Private Wealth Partners LLC now owns 1,656 shares of the network technology company’s stock worth $561,000 after buying an additional 530 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Evercore ISI upped their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Oppenheimer upped their target price on Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Needham & Company LLC upped their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $366.08.

Palo Alto Networks Trading Up 0.5 %

Shares of PANW opened at $346.90 on Friday. Palo Alto Networks, Inc. has a 1 year low of $224.64 and a 1 year high of $380.84. The stock has a market cap of $112.95 billion, a P/E ratio of 50.42, a price-to-earnings-growth ratio of 4.98 and a beta of 1.13. The stock’s 50-day moving average price is $336.21 and its two-hundred day moving average price is $312.18.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (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 firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter last year, the business earned $0.80 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Insider Activity

In other news, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks 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 transaction, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks 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 transaction, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The disclosure for this sale can be found here. Insiders have sold 464,075 shares of company stock worth $154,029,567 in the last 90 days. Corporate 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.