Fidelis Capital Partners LLC Sells 2,144 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Fidelis Capital Partners LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,065 shares of the network technology company's stock after selling 2,144 shares during the quarter. Fidelis Capital Partners LLC's holdings in Palo Alto Networks were worth $4,486,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. State of Michigan Retirement System boosted its position in shares of Palo Alto Networks by 1.1% in the first quarter. State of Michigan Retirement System now owns 179,600 shares of the network technology company's stock valued at $30,647,000 after acquiring an additional 2,000 shares during the period. MJP Associates Inc. ADV boosted its position in shares of Palo Alto Networks by 2.5% in the first quarter. MJP Associates Inc. ADV now owns 2,698 shares of the network technology company's stock valued at $460,000 after acquiring an additional 67 shares during the period. Cerity Partners LLC boosted its position in shares of Palo Alto Networks by 4.3% in the first quarter. Cerity Partners LLC now owns 854,579 shares of the network technology company's stock valued at $145,825,000 after acquiring an additional 35,181 shares during the period. Vision Capital Management Inc. bought a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $3,826,000. Finally, Telos Capital Management Inc. boosted its position in shares of Palo Alto Networks by 5.1% in the first quarter. Telos Capital Management Inc. now owns 59,813 shares of the network technology company's stock valued at $10,206,000 after acquiring an additional 2,893 shares during the period. Institutional investors own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the transaction, the executive vice president owned 293,010 shares in the company, valued at $55,458,002.70. The trade was a 29.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Aparna Bawa sold 526 shares of Palo Alto Networks stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $190.00, for a total value of $99,940.00. Following the transaction, the director owned 8,632 shares in the company, valued at $1,640,080. This trade represents a 5.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock worth $111,279,829 over the last three months. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Down 6.8%

Shares of PANW opened at $192.07 on Friday. 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 cap of $128.07 billion, a P/E ratio of 109.75, a price-to-earnings-growth ratio of 5.75 and a beta of 0.97. The stock's 50-day moving average price is $195.05 and its two-hundred day moving average price is $185.79.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its 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 return on equity of 19.48% and a net margin of 13.95%. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the business earned $0.66 earnings per share. The company's revenue was up 15.3% compared to the same quarter last year. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PANW. Hsbc Global Res raised Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research report on Thursday, April 10th. Wells Fargo & Company upped their target price on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Northland Securities cut their target price on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research note on Wednesday, May 21st. Rosenblatt Securities restated a "buy" rating and issued a $235.00 target price on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Finally, Roth Capital began coverage on Palo Alto Networks in a research note on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently 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.

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