Brookstone Capital Management Sells 1,489 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Brookstone Capital Management lowered its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,813 shares of the network technology company's stock after selling 1,489 shares during the period. Brookstone Capital Management's holdings in Palo Alto Networks were worth $11,742,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC raised its holdings in Palo Alto Networks by 80.0% during the first quarter. Catalyst Capital Advisors LLC now owns 1,557 shares of the network technology company's stock worth $266,000 after buying an additional 692 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Palo Alto Networks by 10.8% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,193 shares of the network technology company's stock worth $2,763,000 after acquiring an additional 1,573 shares during the last quarter. Huntleigh Advisors Inc. lifted its position in Palo Alto Networks by 0.4% in the 1st quarter. Huntleigh Advisors Inc. now owns 20,325 shares of the network technology company's stock valued at $3,468,000 after acquiring an additional 90 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Palo Alto Networks by 10,123.7% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 152,333 shares of the network technology company's stock valued at $25,994,000 after purchasing an additional 150,843 shares during the last quarter. Finally, GF Fund Management CO. LTD. increased its holdings in Palo Alto Networks by 1.7% during the 1st quarter. GF Fund Management CO. LTD. now owns 141,158 shares of the network technology company's stock worth $24,087,000 after purchasing an additional 2,349 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated 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 owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. This represents a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the completion of the sale, the executive vice president owned 101,135 shares of the company's stock, valued at $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 668,722 shares of company stock valued at $121,714,798 over the last quarter. Corporate insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PANW. Roth Capital initiated coverage on Palo Alto Networks in a report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price on the stock. 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 research note on Thursday, April 10th. Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Finally, Barclays dropped their price target on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday, May 21st. 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Palo Alto Networks Trading Up 2.3%

NASDAQ:PANW traded up $4.53 during trading hours on Friday, reaching $201.50. 2,561,725 shares of the company traded hands, compared to its average volume of 5,398,532. The business's 50-day moving average price is $193.80 and its two-hundred day moving average price is $185.44. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The stock has a market capitalization of $134.36 billion, a P/E ratio of 115.14, a P/E/G ratio of 5.63 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter in the previous year, the business posted $0.66 EPS. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

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.