Spire Wealth Management Sells 211 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Spire Wealth Management lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 62,864 shares of the network technology company’s stock after selling 211 shares during the period. Spire Wealth Management’s holdings in Palo Alto Networks were worth $10,727,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PANW. Transce3nd LLC purchased a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL lifted its stake 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 purchasing an additional 55 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Palo Alto Networks by 102.6% during the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Anchor Investment Management LLC grew 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 worth $28,000 after purchasing an additional 78 shares during the period. Finally, Kiely Wealth Advisory Group Inc. grew its stake in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after purchasing an additional 75 shares during the period. 79.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PANW. KeyCorp reissued an “overweight” rating and set a $220.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Jefferies Financial Group lifted their price target on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Northland Securities cut their price objective on shares of Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating on the stock in a report on Wednesday, May 21st. Guggenheim reiterated a “sell” rating and set a $130.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, Truist Financial cut their price target on 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. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $208.00.

Palo Alto Networks Stock Performance

PANW stock opened at $201.69 on Wednesday. The company has a market cap of $134.49 billion, a price-to-earnings ratio of 115.25, a P/E/G ratio of 5.67 and a beta of 0.97. The business’s 50-day moving average is $188.66 and its two-hundred day moving average is $185.20. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results 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 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 business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. Equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president now directly owns 101,135 shares in the company, valued at $20,414,099.75. This represents a 4.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction on Friday, June 20th. The shares were sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer now owns 42,033 shares in the company, valued at $8,450,734.65. This trade represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 795,536 shares of company stock worth $141,007,618. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Company 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.