Perennial Investment Advisors LLC Lowers Position in Palo Alto Networks, Inc. $PANW

Perennial Investment Advisors LLC trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 9,758 shares of the network technology company’s stock after selling 453 shares during the period. Perennial Investment Advisors LLC’s holdings in Palo Alto Networks were worth $1,997,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC boosted its position in shares of Palo Alto Networks by 6,400.0% during the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock valued at $27,000 after purchasing an additional 128 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in Palo Alto Networks during the second quarter valued at $28,000. MTM Investment Management LLC purchased a new position in Palo Alto Networks during the second quarter valued at $31,000. Dagco Inc. bought a new stake in shares of Palo Alto Networks during the 1st quarter valued at $33,000. Finally, WPG Advisers LLC purchased a new stake in shares of Palo Alto Networks in the 1st quarter worth about $37,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 1.1%

Shares of Palo Alto Networks stock opened at $202.90 on Tuesday. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61. The company has a market cap of $138.78 billion, a price-to-earnings ratio of 126.42, a price-to-earnings-growth ratio of 4.88 and a beta of 0.95. The company’s 50 day moving average is $209.18 and its 200 day moving average is $197.32.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 18th. The network technology company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.50 billion. Palo Alto Networks had a net margin of 12.30% and a return on equity of 17.66%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. Sell-side analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $219.97, for a total value of $153,979.00. Following the transaction, the chief accounting officer directly owned 47,505 shares of the company’s stock, valued at approximately $10,449,674.85. This trade represents a 1.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 846,408 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $204.06, for a total transaction of $172,718,016.48. Following the sale, the chief executive officer directly owned 275,013 shares of the company’s stock, valued at $56,119,152.78. The trade was a 75.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,215,830 shares of company stock worth $249,160,428 in the last ninety days. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PANW shares. Scotiabank lifted their target price on shares of Palo Alto Networks from $225.00 to $228.00 and gave the company a “sector outperform” rating in a report on Tuesday, August 19th. Wedbush reissued an “outperform” rating and issued a $225.00 target price on shares of Palo Alto Networks in a report on Monday, September 15th. Piper Sandler raised Palo Alto Networks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $200.00 to $225.00 in a research note on Tuesday, August 12th. New Street Research lifted their price target on Palo Alto Networks from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Royal Bank Of Canada raised their price objective on shares of Palo Alto Networks from $232.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, November 12th. Twenty-nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.24.

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.