Waterloo Capital L.P. Sells 183 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Waterloo Capital L.P. lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.5% in the second quarter, Holdings Channel reports. The firm owned 5,096 shares of the network technology company’s stock after selling 183 shares during the period. Waterloo Capital L.P.’s holdings in Palo Alto Networks were worth $1,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $25,000. Frank Rimerman Advisors LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. Ulland Investment Advisors LLC bought a new position in Palo Alto Networks in the first quarter valued at about $30,000. Finally, Central Bank & Trust Co. boosted its holdings in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at $8,443,916. The disclosure for this sale can be found here. Insiders have sold 464,075 shares of company stock valued at $154,029,567 over the last ninety days. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Performance

Palo Alto Networks stock opened at $337.93 on Wednesday. Palo Alto Networks, Inc. has a one year low of $224.64 and a one year high of $380.84. The stock has a market cap of $110.03 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 5.03 and a beta of 1.13. The stock has a 50-day moving average of $336.41 and a two-hundred day moving average of $312.63.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $0.80 earnings per share. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on PANW. Sanford C. Bernstein boosted their target price on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Piper Sandler boosted their target price on Palo Alto Networks from $300.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group upped their price objective on Palo Alto Networks from $330.00 to $376.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their price objective on Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada boosted their target price on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Thirteen equities research 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 stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price of $366.08.

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.