Linscomb Wealth Inc. Reduces Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Key Points

• Linscomb Wealth Inc. reduced its holdings in Palo Alto Networks, Inc. (PANW) by 4.9%, selling 1,792 shares, and now owns 34,576 shares valued at approximately $5.9 million.
• Palo Alto Networks shares have seen a slight decline, currently priced at $167.06, with market capitalization at $111.40 billion.
• Insider transactions have occurred, with Aparna Bawa, a director, selling 526 shares for nearly $100,000, indicating active insider dealings within the company.

Linscomb Wealth Inc. trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 4.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,576 shares of the network technology company's stock after selling 1,792 shares during the quarter. Linscomb Wealth Inc.'s holdings in Palo Alto Networks were worth $5,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Transce3nd LLC purchased a new position in Palo Alto Networks during the fourth quarter worth $25,000. Strategic Investment Solutions Inc. IL lifted its position in shares of 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 purchasing an additional 55 shares during the last quarter. Anchor Investment Management LLC lifted its position in shares of 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 purchasing an additional 78 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth $29,000. Finally, HWG Holdings LP bought a new stake in shares of Palo Alto Networks during the first quarter worth $31,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Down 0.6%

Shares of NASDAQ PANW opened at $167.06 on Monday. The business's 50 day moving average price is $194.23 and its 200 day moving average price is $186.91. The firm has a market cap of $111.40 billion, a P/E ratio of 95.46, a P/E/G ratio of 3.96 and a beta of 0.94. Palo Alto Networks, Inc. has a 52 week low of $144.15 and a 52 week high of $210.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The firm 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%. Palo Alto Networks's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 earnings per share. As a group, research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Palo Alto Networks

In related news, Director Aparna Bawa sold 526 shares of the company's stock in a transaction that occurred 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 owned 8,632 shares in the company, valued at $1,640,080. This 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 hyperlink. Also, CAO Josh D. Paul sold 600 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $204.00, for a total value of $122,400.00. Following the completion of the sale, the chief accounting officer owned 41,433 shares in the company, valued at approximately $8,452,332. This represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 669,248 shares of company stock valued at $126,423,337 over the last quarter. Company insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Rosenblatt Securities reiterated a "buy" rating and set a $235.00 target price on shares of Palo Alto Networks in a research report on Thursday, July 31st. Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Jefferies Financial Group set a $235.00 price objective on Palo Alto Networks in a report on Tuesday, July 29th. Morgan Stanley decreased their price objective 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. Finally, Barclays decreased their price objective 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. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have issued a buy rating to the stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.61.

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.

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