5T Wealth LLC Sells 105 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

5T Wealth LLC trimmed its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.9% during the first quarter, Holdings Channel.com reports. The firm owned 3,553 shares of the network technology company’s stock after selling 105 shares during the period. 5T Wealth LLC’s holdings in Palo Alto Networks were worth $606,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PANW. Strategic Investment Solutions Inc. IL lifted its holdings in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. JDM Financial Group LLC lifted its stake in shares of Palo Alto Networks by 22.4% during the fourth quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock valued at $59,000 after acquiring an additional 59 shares during the period. Adero Partners LLC lifted its stake in shares of Palo Alto Networks by 4.3% during the first quarter. Adero Partners LLC now owns 1,556 shares of the network technology company’s stock valued at $266,000 after acquiring an additional 64 shares during the period. Snider Financial Group boosted its holdings in Palo Alto Networks by 0.4% in the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company’s stock valued at $3,025,000 after acquiring an additional 65 shares during the last quarter. Finally, Grimes & Company Inc. increased its position in Palo Alto Networks by 5.3% in the first quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company’s stock worth $224,000 after purchasing an additional 66 shares during the period. 79.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PANW has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Stephens lowered shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Truist Financial reduced their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped their target price on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating for the company in a research report on Wednesday, May 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $235.00 price target on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.00.

Palo Alto Networks Stock Down 0.3%

NASDAQ:PANW opened at $199.24 on Monday. The company has a market cap of $132.85 billion, a P/E ratio of 113.85, a price-to-earnings-growth ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The business has a 50 day moving average price of $187.43 and a two-hundred day moving average price of $185.08.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the sale, the executive vice president now owns 3,543,516 shares in the company, valued at $586,132,981.56. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the transaction, the executive vice president now owns 321,774 shares in the company, valued at $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 789,736 shares of company stock valued at $139,837,528 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

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.