Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by NBW Capital LLC

NBW Capital LLC cut its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,956 shares of the network technology company’s stock after selling 2,789 shares during the period. Palo Alto Networks accounts for approximately 1.6% of NBW Capital LLC’s investment portfolio, making the stock its 22nd biggest holding. NBW Capital LLC’s holdings in Palo Alto Networks were worth $7,943,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at $27,000. Webster Bank N. A. increased its position in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares during the period. Financial Synergies Wealth Advisors Inc. increased 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 acquiring an additional 96 shares during the period. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter valued at $30,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PANW has been the topic of several analyst reports. Sanford C. Bernstein increased their price target on Palo Alto Networks from $335.00 to $364.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $360.00 price target on shares of Palo Alto Networks in a research report on Wednesday, June 12th. Redburn Atlantic downgraded Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price target for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Evercore ISI cut their price target on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a research report on Friday, June 21st. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $325.59.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 121,276 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $49,895,983.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 121,276 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the transaction, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $49,895,983.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the sale, the executive vice president now directly owns 1,259,567 shares of the company’s stock, valued at $369,443,596.77. The disclosure for this sale can be found here. Insiders sold 428,591 shares of company stock valued at $137,275,079 in the last 90 days. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded down $10.02 during midday trading on Friday, reaching $305.60. 3,524,599 shares of the stock were exchanged, compared to its average volume of 2,378,765. The company has a 50 day simple moving average of $321.74 and a 200 day simple moving average of $312.08. The stock has a market capitalization of $98.95 billion, a P/E ratio of 44.42, a PEG ratio of 4.16 and a beta of 1.14. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month 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, beating the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter last year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, research analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

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.