Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Bogart Wealth LLC

Bogart Wealth LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 6.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,234 shares of the network technology company's stock after selling 4,505 shares during the quarter. Bogart Wealth LLC's holdings in Palo Alto Networks were worth $11,985,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Uniting Wealth Partners LLC acquired a new position in Palo Alto Networks during the 4th quarter worth $548,000. Rehmann Capital Advisory Group boosted its position in Palo Alto Networks by 106.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock worth $433,000 after acquiring an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Palo Alto Networks by 94.3% during 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 acquiring an additional 5,658 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in Palo Alto Networks by 108.1% during 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 acquiring an additional 11,095 shares during the period. Finally, GAMMA Investing LLC boosted its position in Palo Alto Networks by 10.8% during the 1st quarter. GAMMA Investing LLC now owns 14,125 shares of the network technology company's stock worth $2,410,000 after acquiring an additional 1,374 shares during the period. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Activity

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the business's 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 of the company's stock, valued at $20,414,099.75. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $201.05, for a total value of $160,840.00. Following the transaction, the chief accounting officer directly owned 42,033 shares in the company, valued at approximately $8,450,734.65. This trade represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 569,248 shares of company stock valued at $111,279,829. 2.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PANW shares. Wells Fargo & Company boosted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price objective on the stock in a research note on Thursday, April 10th. Sanford C. Bernstein set a $225.00 price objective on Palo Alto Networks and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Morgan Stanley cut their target price on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Northland Securities cut their target price on 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. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Palo Alto Networks presently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

Palo Alto Networks Trading Down 2.4%

PANW stock opened at $187.39 on Monday. The business's 50-day moving average price is $195.04 and its two-hundred day moving average price is $185.73. The firm has a market cap of $124.95 billion, a PE ratio of 107.08, a P/E/G ratio of 5.23 and a beta of 0.97. Palo Alto Networks, Inc. has a 1-year low of $142.01 and a 1-year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly 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 company 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%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. On average, analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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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