Cyndeo Wealth Partners LLC Sells 1,360 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Cyndeo Wealth Partners LLC lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,726 shares of the network technology company's stock after selling 1,360 shares during the period. Cyndeo Wealth Partners LLC's holdings in Palo Alto Networks were worth $2,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG increased its position in Palo Alto Networks by 51.2% during the first quarter. Bank Pictet & Cie Europe AG now owns 66,522 shares of the network technology company's stock worth $11,351,000 after buying an additional 22,537 shares during the period. Good Life Advisors LLC lifted its holdings in shares of Palo Alto Networks by 1,046.4% in the 1st quarter. Good Life Advisors LLC now owns 13,378 shares of the network technology company's stock valued at $2,283,000 after buying an additional 12,211 shares during the period. Trust Co. of Toledo NA OH lifted its holdings in Palo Alto Networks by 1.1% in the first quarter. Trust Co. of Toledo NA OH now owns 68,663 shares of the network technology company's stock valued at $11,717,000 after acquiring an additional 731 shares during the period. North Star Investment Management Corp. boosted its holdings in Palo Alto Networks by 2.1% during the first quarter. North Star Investment Management Corp. now owns 4,890 shares of the network technology company's stock worth $834,000 after buying an additional 100 shares in the last quarter. Finally, Optas LLC grew its holdings in shares of Palo Alto Networks by 4.1% in the 1st quarter. Optas LLC now owns 2,117 shares of the network technology company's stock worth $361,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 79.82% of the company's stock.

Insider Activity at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks 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 now directly owns 264,246 shares in the company, valued at approximately $51,564,964.44. The trade was a 31.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $193.36, for a total value of $19,336,000.00. Following the completion of the sale, the executive vice president now directly owns 3,343,516 shares of the company's stock, valued at $646,502,253.76. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 789,736 shares of company stock worth $139,837,528. 2.50% of the stock is owned by insiders.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $3.94 during midday trading on Tuesday, reaching $202.05. 4,129,265 shares of the company's stock traded hands, compared to its average volume of 5,474,039. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The company's 50 day simple moving average is $185.07 and its 200 day simple moving average is $185.04. The company has a market cap of $134.73 billion, a price-to-earnings ratio of 113.83, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results 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 21.93% and a net margin of 14.64%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the company earned $0.66 earnings per share. The business's revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PANW shares. Wells Fargo & Company upped their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Rosenblatt Securities reissued a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Susquehanna raised their target price on shares of Palo Alto Networks from $217.50 to $230.00 and gave the company a "positive" rating in a research note on Tuesday, February 18th. Guggenheim reissued a "sell" rating and set a $130.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Northland Securities cut their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of "Moderate Buy" and an average price target of $208.00.

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.