Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 28.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,019 shares of the network technology company's stock after selling 8,192 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Palo Alto Networks were worth $3,587,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL lifted its position 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 valued at $26,000 after purchasing an additional 55 shares in the last quarter. JDM Financial Group LLC boosted its holdings in Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock worth $59,000 after buying an additional 59 shares during the period. Rakuten Securities Inc. increased its stake in Palo Alto Networks by 8.4% in the 4th quarter. Rakuten Securities Inc. now owns 906 shares of the network technology company's stock worth $165,000 after buying an additional 70 shares in the last quarter. Quarry LP raised its holdings in Palo Alto Networks by 16.9% during the fourth quarter. Quarry LP now owns 511 shares of the network technology company's stock valued at $93,000 after acquiring an additional 74 shares during the period. Finally, Kiely Wealth Advisory Group Inc. lifted its position 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 acquiring an additional 75 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, April 7th. The stock was sold at an average price of $151.13, for a total value of $18,252,574.62. Following the transaction, the executive vice president now directly owns 321,774 shares in the company, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the firm's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $165.41, for a total value of $16,541,000.00. Following the sale, the executive vice president now directly owns 3,543,516 shares in the company, valued at approximately $586,132,981.56. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 668,962 shares of company stock valued at $116,269,690. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Up 1.6%

Shares of Palo Alto Networks stock traded up $3.11 on Thursday, hitting $197.18. 3,540,615 shares of the company traded hands, compared to its average volume of 5,538,982. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The company has a market cap of $131.48 billion, a PE ratio of 111.09, a PEG ratio of 5.64 and a beta of 1.02. The stock's 50 day moving average price is $179.38 and its 200-day moving average price is $185.03.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the company posted $0.66 EPS. Palo Alto Networks's revenue was up 15.3% on a year-over-year basis. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of research analyst reports. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a report on Thursday, April 10th. TD Securities reissued a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Jefferies Financial Group raised their target price on shares of Palo Alto Networks from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Citigroup boosted their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, Truist Financial cut their price objective on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Two equities research 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 stock. According to MarketBeat, the stock currently has a consensus 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.