Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. decreased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,774 shares of the network technology company’s stock after selling 10,611 shares during the period. Palo Alto Networks makes up 2.0% of Philadelphia Trust Co.’s portfolio, making the stock its 12th biggest position. Philadelphia Trust Co.’s holdings in Palo Alto Networks were worth $23,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PANW. Csenge Advisory Group grew its stake in shares of Palo Alto Networks by 2.4% in the 1st quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company’s stock worth $381,000 after purchasing an additional 53 shares during the last quarter. Strategic Investment Solutions Inc. IL grew 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 worth $26,000 after purchasing an additional 55 shares during the last quarter. SYM FINANCIAL Corp grew its stake in shares of Palo Alto Networks by 1.4% in the 1st quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company’s stock worth $691,000 after purchasing an additional 55 shares during the last quarter. Crew Capital Management Ltd. grew its stake in shares of Palo Alto Networks by 2.5% in the 1st quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company’s stock worth $394,000 after purchasing an additional 57 shares during the last quarter. Finally, JDM Financial Group LLC grew its stake in shares of Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company’s stock worth $59,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 2.0%

Shares of NASDAQ:PANW opened at $177.09 on Friday. The stock has a market capitalization of $118.08 billion, a P/E ratio of 101.19, a P/E/G ratio of 4.26 and a beta of 0.94. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $210.39. The business has a 50-day moving average price of $192.00 and a two-hundred day moving average price of $186.41.

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 analysts’ consensus estimates of $0.77 by $0.03. The company 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%. Palo Alto Networks’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on PANW shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 target price on shares of Palo Alto Networks in a report on Friday. Piper Sandler upgraded shares of Palo Alto Networks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $200.00 to $225.00 in a report on Tuesday. Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the stock an “outperform” rating in a report on Wednesday, May 21st. Morgan Stanley set a $496.00 target price on shares of Palo Alto Networks in a report on Thursday, August 7th. Finally, Jefferies Financial Group set a $235.00 target price on shares of Palo Alto Networks in a report on Tuesday, July 29th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $217.01.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $172.80, for a total transaction of $17,280,000.00. Following the completion of the transaction, the executive vice president owned 3,143,516 shares in the company, valued at approximately $543,199,564.80. This represents a 3.08% decrease in their position. The transaction 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 the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $195.14, for a total value of $23,567,838.36. Following the transaction, the executive vice president owned 264,246 shares of the company’s stock, valued at approximately $51,564,964.44. This trade represents a 31.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 669,248 shares of company stock valued at $126,423,337. 2.50% of the stock is currently owned by insiders.

About Palo Alto Networks

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.