Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Leo Wealth LLC

Leo Wealth LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 59.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,171 shares of the network technology company's stock after selling 3,121 shares during the quarter. Leo Wealth LLC's holdings in Palo Alto Networks were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Palo Alto Networks by 147.7% in the 4th quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company's stock valued at $1,230,000 after buying an additional 4,031 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in Palo Alto Networks by 115.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 43,985 shares of the network technology company's stock valued at $8,004,000 after buying an additional 23,586 shares during the period. Proficio Capital Partners LLC grew its holdings in Palo Alto Networks by 215.8% in the 4th quarter. Proficio Capital Partners LLC now owns 2,416 shares of the network technology company's stock valued at $440,000 after buying an additional 1,651 shares during the period. Associated Banc Corp purchased a new stake in Palo Alto Networks in the 4th quarter valued at about $215,000. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Palo Alto Networks by 77.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 82,517 shares of the network technology company's stock valued at $15,015,000 after buying an additional 35,913 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director Aparna Bawa sold 526 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $190.00, for a total value of $99,940.00. Following the sale, the director directly owned 8,632 shares of the company's stock, valued at $1,640,080. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the completion of the sale, the executive vice president directly owned 3,243,516 shares in the company, valued at $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. In the last 90 days, insiders sold 569,248 shares of company stock worth $111,279,829. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of PANW stock traded down $0.88 on Friday, hitting $195.40. 1,807,776 shares of the stock traded hands, compared to its average volume of 5,398,067. The company has a market capitalization of $130.29 billion, a PE ratio of 111.67, a PEG ratio of 5.38 and a beta of 0.97. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39. The company's fifty day moving average is $195.41 and its 200 day moving average is $185.94.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The business's revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Barclays decreased their target price on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. JPMorgan Chase & Co. decreased their target price on Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a report on Wednesday, May 21st. Roth Capital started coverage on Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 target price for the company. Finally, Morgan Stanley decreased their target price on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Company 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.