Palo Alto Networks, Inc. (NASDAQ:PANW) Position Cut by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 28.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 21,019 shares of the network technology company’s stock after selling 8,192 shares during the period. Teamwork Financial Advisors LLC’s holdings in Palo Alto Networks were worth $3,587,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Palo Alto Networks by 104.4% in 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 during the period. Geode Capital Management LLC increased its position in Palo Alto Networks by 87.8% in the 4th 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 acquiring an additional 6,725,148 shares during the period. Capital Research Global Investors increased its position in Palo Alto Networks by 83.8% in the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after acquiring an additional 3,841,359 shares during the period. Northern Trust Corp raised its stake in Palo Alto Networks by 133.7% during the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock valued at $1,427,048,000 after acquiring an additional 4,486,654 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Palo Alto Networks by 17.6% during the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company’s stock worth $1,324,387,000 after acquiring an additional 1,088,631 shares during the period. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $165.41, for a total value of $16,541,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,543,516 shares of the company’s stock, valued at $586,132,981.56. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction dated 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 directly owns 317,571 shares in the company, valued at approximately $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 ninety days, insiders have sold 668,962 shares of company stock valued at $116,269,690. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Stock Up 1.2%

NASDAQ:PANW opened at $197.12 on Wednesday. The firm has a 50-day moving average price of $178.96 and a 200 day moving average price of $184.97. The firm has a market capitalization of $131.44 billion, a PE ratio of 111.05, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced 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 business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PANW shares. UBS Group increased their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price objective for the company in a report on Thursday, April 10th. JMP Securities boosted their target price on Palo Alto Networks from $208.00 to $212.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Truist Financial decreased their price target on Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Citigroup lifted their price target on Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average 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.