Omnia Family Wealth LLC Sells 480 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Omnia Family Wealth LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,318 shares of the network technology company’s stock after selling 480 shares during the quarter. Omnia Family Wealth LLC’s holdings in Palo Alto Networks were worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PANW. Vanguard Group Inc. boosted its position in Palo Alto Networks by 104.4% during the fourth quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after purchasing an additional 31,281,359 shares in the last quarter. Geode Capital Management LLC boosted its position in Palo Alto Networks by 87.8% during the fourth quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after purchasing an additional 6,725,148 shares in the last quarter. Norges Bank acquired a new stake in Palo Alto Networks in the fourth quarter worth about $970,736,000. Northern Trust Corp boosted its holdings in Palo Alto Networks by 133.7% in the fourth quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock worth $1,427,048,000 after acquiring an additional 4,486,654 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Palo Alto Networks by 83.8% in the fourth quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock worth $1,533,419,000 after acquiring an additional 3,841,359 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Palo Alto Networks stock opened at $204.30 on Thursday. The stock has a market capitalization of $136.23 billion, a PE ratio of 116.74, a price-to-earnings-growth ratio of 5.63 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39. The business has a 50 day simple moving average of $189.35 and a 200-day simple moving average of $185.33.

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 analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Dipak Golechha sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction 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 approximately $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the business’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 value 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. The trade was a 41.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 795,536 shares of company stock worth $141,007,618. 2.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PANW. JPMorgan Chase & Co. lowered their price target on Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating for the company in a report on Wednesday, May 21st. Guggenheim reissued a “sell” rating and issued a $130.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. HSBC raised Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price target for the company in a 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. Finally, KeyCorp reissued an “overweight” rating and issued a $220.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.