Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 49.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,622 shares of the network technology company’s stock after selling 1,578 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in Palo Alto Networks were worth $277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Anchor Investment Management LLC lifted its stake in shares of 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 acquiring an additional 78 shares during the period. Kiely Wealth Advisory Group Inc. increased its holdings 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 in the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in Palo Alto Networks in the fourth quarter valued at approximately $29,000. 79.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on PANW shares. TD Securities restated a “buy” rating and set a $230.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Barclays decreased their target price on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, May 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $223.00 target price on shares of Palo Alto Networks in a research note on Monday, May 19th. Hsbc Global Res upgraded shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a research report on Thursday, April 10th. Finally, Jefferies Financial Group upped their target price on Palo Alto Networks from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $208.00.

View Our Latest Analysis on Palo Alto Networks

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $196.28 on Friday. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The firm has a market capitalization of $130.88 billion, a PE ratio of 112.16, a P/E/G ratio of 5.38 and a beta of 0.97. The business’s fifty day moving average price is $195.41 and its two-hundred day moving average price is $185.94.

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

Insider Activity

In other news, EVP Nir Zuk sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the transaction, the executive vice president directly owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $200.86, for a total transaction of $24,258,665.64. Following the completion of the transaction, the executive vice president directly owned 235,482 shares in the company, valued at approximately $47,298,914.52. The trade was a 33.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 569,248 shares of company stock valued at $111,279,829. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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