Moloney Securities Asset Management LLC Decreases Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Moloney Securities Asset Management LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 11.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PANW. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter worth about $25,000. Strategic Investment Solutions Inc. IL grew its position in Palo Alto Networks by 64.0% in the 4th 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 increased 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 valued at $28,000 after purchasing an additional 78 shares during the period. Kiely Wealth Advisory Group Inc. increased its stake in shares of Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after purchasing an additional 75 shares during the period. 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 Analysts Forecast Growth

PANW has been the subject of a number of recent analyst reports. Truist Financial decreased their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a report on Monday, March 31st. Guggenheim reissued a "sell" rating and set a $130.00 price target on shares of Palo Alto Networks in a report on Wednesday, May 21st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 20th. Wells Fargo & Company upped their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, HSBC upgraded Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Palo Alto Networks Stock Down 2.4%

Shares of NASDAQ:PANW traded down $4.68 on Friday, hitting $187.39. 7,403,780 shares of the company traded hands, compared to its average volume of 5,412,708. The stock has a 50 day simple moving average of $195.05 and a 200-day simple moving average of $185.79. The company has a market cap of $124.95 billion, a PE ratio of 107.08, a PEG ratio of 5.75 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The firm's quarterly revenue was up 15.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the completion of the sale, the chief accounting officer directly owned 42,033 shares in the company, valued at $8,450,734.65. The trade was a 1.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the stock in a transaction on 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 completion of the sale, the executive vice president directly owned 293,010 shares of the company's stock, valued at approximately $55,458,002.70. This trade represents a 29.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock valued at $111,279,829 in the last 90 days. Insiders own 2.50% of the company's stock.

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.