Grange Capital LLC Sells 1,940 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Grange Capital LLC cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 26.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,524 shares of the network technology company's stock after selling 1,940 shares during the period. Palo Alto Networks makes up approximately 1.1% of Grange Capital LLC's holdings, making the stock its 26th biggest position. Grange Capital LLC's holdings in Palo Alto Networks were worth $943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Transce3nd LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth $25,000. Strategic Investment Solutions Inc. IL raised its stake in shares of Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock worth $28,000 after acquiring an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. lifted its position in shares of 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 purchasing an additional 75 shares in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter valued at approximately $29,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PANW shares. KeyCorp reaffirmed an "overweight" rating and set a $220.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. Truist Financial reduced their target price on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Guggenheim reissued a "sell" rating and set a $130.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price objective on shares of Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Finally, Roth Capital initiated coverage on Palo Alto Networks in a research note on Thursday, May 15th. They issued a "neutral" rating and a $210.00 price target on the stock. Two 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Insider Activity at Palo Alto Networks

In other news, EVP Nir Zuk sold 100,000 shares of the 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 completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer owned 42,033 shares in the company, valued at approximately $8,450,734.65. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 569,248 shares of company stock worth $111,279,829 in the last quarter. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $3.69 on Thursday, hitting $196.28. The company's stock had a trading volume of 4,297,753 shares, compared to its average volume of 5,408,799. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The company has a market capitalization of $130.88 billion, a PE ratio of 112.16, a PEG ratio of 5.37 and a beta of 0.97. The company has a 50-day simple moving average of $195.25 and a 200 day simple moving average of $185.85.

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