Transform Wealth LLC Sells 281 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Transform Wealth LLC trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 17.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,359 shares of the network technology company’s stock after selling 281 shares during the period. Transform Wealth LLC’s holdings in Palo Alto Networks were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of PANW. Transce3nd LLC bought a new stake in Palo Alto Networks during the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after buying an additional 55 shares in the last quarter. Kiely Wealth Advisory Group Inc. boosted its holdings in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after buying an additional 75 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its stake in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the firm’s stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the completion of the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora sold 227,414 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the sale, the chief executive officer now owns 317,571 shares of the company’s stock, valued at $54,854,038.83. This represents a 41.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 789,736 shares of company stock valued at $139,837,528. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

Shares of Palo Alto Networks stock opened at $194.39 on Thursday. The business has a 50 day simple moving average of $182.38 and a two-hundred day simple moving average of $185.09. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The stock has a market capitalization of $129.62 billion, a P/E ratio of 109.52, a PEG ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. HSBC raised Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective for the company in a research report on Thursday, April 10th. Hsbc Global Res raised Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 10th. Susquehanna raised their price target on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a report on Tuesday, February 18th. Jefferies Financial Group lifted their target price on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company lifted their target price on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

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.