Diversify Advisory Services LLC Decreases Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Diversify Advisory Services LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,358 shares of the network technology company's stock after selling 5,382 shares during the period. Palo Alto Networks comprises 1.0% of Diversify Advisory Services LLC's portfolio, making the stock its 19th largest holding. Diversify Advisory Services LLC's holdings in Palo Alto Networks were worth $15,932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PANW. Transce3nd LLC purchased a new stake in Palo Alto Networks during the fourth quarter worth about $25,000. Strategic Investment Solutions Inc. IL boosted its holdings in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after buying an additional 55 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after buying an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. boosted its holdings in Palo Alto Networks by 100.0% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock worth $29,000 after buying an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in Palo Alto Networks during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 79.82% of the company's stock.

Palo Alto Networks Price Performance

PANW stock traded down $0.50 on Friday, hitting $195.78. 2,977,409 shares of the company were exchanged, compared to its average volume of 5,403,774. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The business's fifty day moving average is $195.58 and its two-hundred day moving average is $186.03. The stock has a market capitalization of $130.55 billion, a price-to-earnings ratio of 111.87, a price-to-earnings-growth ratio of 5.48 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the firm earned $0.66 earnings per share. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 526 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the sale, the director directly owned 8,632 shares in the company, valued at $1,640,080. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the sale, the executive vice president owned 3,243,516 shares of the company's stock, valued at approximately $644,356,888.56. This represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 569,248 shares of company stock valued at $111,279,829 over the last quarter. Company insiders own 2.50% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on PANW shares. Roth Capital started coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective on the stock. Stephens downgraded shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 1st. KeyCorp restated an "overweight" rating and set a $220.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Barclays cut their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group lifted their target price on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.