Farther Finance Advisors LLC Lowers Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Farther Finance Advisors LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 14.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,989 shares of the network technology company's stock after selling 1,893 shares during the quarter. Farther Finance Advisors LLC's holdings in Palo Alto Networks were worth $1,883,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PANW. Transce3nd LLC bought a new position in shares of Palo Alto Networks in the 4th quarter valued at $25,000. Strategic Investment Solutions Inc. IL lifted its stake in shares of Palo Alto Networks by 64.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 79 shares during the last quarter. Anchor Investment Management LLC raised its position in Palo Alto Networks by 100.0% during the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after purchasing an additional 78 shares during the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in Palo Alto Networks during the 4th quarter worth $29,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Palo Alto Networks Trading Down 0.7%

Shares of PANW traded down $1.40 during trading hours on Friday, hitting $196.27. The company had a trading volume of 3,815,861 shares, compared to its average volume of 5,484,807. The company has a market capitalization of $130.87 billion, a PE ratio of 110.58, a price-to-earnings-growth ratio of 5.64 and a beta of 0.97. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39. The company's fifty day moving average price is $184.15 and its two-hundred day moving average price is $185.06.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. Analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley lowered their target price on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Stephens lowered Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Guggenheim reaffirmed a "sell" rating and set a $130.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Jefferies Financial Group raised their target price on Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $208.00.

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 227,414 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $172.73, for a total value of $39,281,220.22. Following the transaction, the chief executive officer now directly owns 317,571 shares of the company's stock, valued at approximately $54,854,038.83. This represents a 41.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the completion of the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at $48,629,704.62. This represents a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 789,736 shares of company stock valued at $139,837,528 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

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.