Premier Fund Managers Ltd Sells 15,944 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Premier Fund Managers Ltd decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 30.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,254 shares of the network technology company’s stock after selling 15,944 shares during the period. Premier Fund Managers Ltd’s holdings in Palo Alto Networks were worth $10,718,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GSG Advisors LLC grew its stake in shares of Palo Alto Networks by 1.0% in the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after buying an additional 51 shares during the period. Spirit of America Management Corp NY increased its holdings in shares of Palo Alto Networks by 50.0% during the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after acquiring an additional 100 shares in the last quarter. Beacon Pointe Advisors LLC raised its position in shares of Palo Alto Networks by 31.4% during the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock worth $33,038,000 after purchasing an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Palo Alto Networks by 9.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock worth $7,291,000 after purchasing an additional 2,225 shares in the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of Palo Alto Networks by 46.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after purchasing an additional 1,325 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the sale, the president now directly owns 20,501 shares in the company, valued at $6,292,166.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President William D. Jenkins, Jr. sold 1,621 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total transaction of $497,517.32. Following the completion of the transaction, the president now owns 20,501 shares in the company, valued at approximately $6,292,166.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,947 shares of company stock valued at $80,644,647. Insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Capital One Financial downgraded shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price objective on the stock. in a report on Wednesday, February 21st. Scotiabank decreased their price objective on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a report on Wednesday, February 21st. Macquarie raised their target price on Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price target for the company. in a report on Wednesday, February 21st. Finally, Oppenheimer restated an “outperform” rating and set a $330.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus price target of $322.78.

Read Our Latest Report on PANW

Palo Alto Networks Trading Down 1.5 %

Shares of Palo Alto Networks stock traded down $4.39 on Tuesday, hitting $290.09. 2,630,854 shares of the company traded hands, compared to its average volume of 5,095,974. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84. The company has a market cap of $93.93 billion, a P/E ratio of 42.56, a P/E/G ratio of 4.54 and a beta of 1.11. The firm’s 50-day simple moving average is $292.60 and its 200 day simple moving average is $302.73.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company’s revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Analysts predict that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Palo Alto Networks 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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