Moloney Securities Asset Management LLC Sells 1,346 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Moloney Securities Asset Management LLC lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,038 shares of the network technology company's stock after selling 1,346 shares during the period. 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.

Several other hedge funds have also made changes to their positions in PANW. Transce3nd LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $25,000. Strategic Investment Solutions Inc. IL lifted its stake in 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 period. Anchor Investment Management LLC lifted its stake in 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 period. Kiely Wealth Advisory Group Inc. lifted its stake in 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 during the period. Finally, Capital A Wealth Management LLC bought a new position in Palo Alto Networks during the fourth quarter worth about $29,000. Institutional investors own 79.82% of the company's stock.

Insider Activity at Palo Alto Networks

In related news, Director Aparna Bawa sold 526 shares of the company'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 transaction, the director owned 8,632 shares in the company, valued at approximately $1,640,080. This represents a 5.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Dipak Golechha sold 5,000 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total transaction of $1,009,250.00. Following the transaction, the executive vice president owned 101,135 shares in the company, valued at approximately $20,414,099.75. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 669,248 shares of company stock worth $127,820,829 over the last ninety days. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW traded down $9.51 during midday trading on Thursday, reaching $196.56. 3,468,557 shares of the stock were exchanged, compared to its average volume of 5,377,189. The business has a 50-day simple moving average of $194.93 and a two-hundred day simple moving average of $185.76. The company has a market capitalization of $131.06 billion, a price-to-earnings ratio of 112.69, a P/E/G ratio of 5.69 and a beta of 0.97. Palo Alto Networks, Inc. has a 12 month low of $142.01 and a 12 month high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS 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 business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the previous year, the firm posted $0.66 EPS. The firm's revenue was up 15.3% compared to the same quarter last year. Equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PANW shares. Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a research note on Thursday, April 10th. TD Securities restated a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Wells Fargo & Company raised their price target on shares of Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Roth Capital started coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective for the company. Finally, Northland Securities dropped their price objective on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and an average target price of $208.00.

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.