Moloney Securities Asset Management LLC Has $1.71 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Moloney Securities Asset Management LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,038 shares of the network technology company's stock after selling 1,346 shares during the quarter. Moloney Securities Asset Management LLC's holdings in Palo Alto Networks were worth $1,713,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Uniting Wealth Partners LLC bought a new position in Palo Alto Networks during the fourth quarter worth $548,000. Rehmann Capital Advisory Group increased its holdings in Palo Alto Networks by 106.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock valued at $433,000 after buying an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Palo Alto Networks by 94.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock worth $2,122,000 after purchasing an additional 5,658 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in shares of Palo Alto Networks by 108.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock worth $3,886,000 after purchasing an additional 11,095 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Palo Alto Networks by 10.8% in the 1st quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock worth $2,410,000 after purchasing an additional 1,374 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Analysts Set New Price Targets

PANW has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 20th. Northland Securities cut their price target on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 21st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. Truist Financial dropped 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 report on Monday, March 31st. Finally, Sanford C. Bernstein set a $225.00 target price on shares of Palo Alto Networks and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $200.86, for a total value of $24,258,665.64. Following the completion of the transaction, the executive vice president owned 235,482 shares of the company's stock, valued at $47,298,914.52. The trade was a 33.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Aparna Bawa sold 526 shares of the business's 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 completion of the transaction, the director directly owned 8,632 shares of the company's stock, valued at approximately $1,640,080. This trade represents a 5.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 669,248 shares of company stock valued at $127,820,829. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Stock Down 6.8%

Shares of PANW traded down $13.99 during midday trading on Thursday, reaching $192.07. 9,212,891 shares of the stock were exchanged, compared to its average volume of 5,405,109. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The company has a market cap of $128.07 billion, a P/E ratio of 109.75, a PEG ratio of 5.75 and a beta of 0.97. The stock's 50 day simple moving average is $195.05 and its 200 day simple moving average is $185.79.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share 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 company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The company's revenue was up 15.3% on a year-over-year basis. As a group, analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.