Braun Stacey Associates Inc. Cuts Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Braun Stacey Associates Inc. lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,562 shares of the network technology company's stock after selling 5,455 shares during the quarter. Braun Stacey Associates Inc.'s holdings in Palo Alto Networks were worth $24,668,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PANW. Transce3nd LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at $25,000. Strategic Investment Solutions Inc. IL increased its stake in Palo Alto Networks by 64.0% during the 4th 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. Anchor Investment Management LLC increased its stake in Palo Alto Networks by 100.0% during the 4th 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 in the last quarter. Kiely Wealth Advisory Group Inc. increased its stake in Palo Alto Networks by 100.0% during the 4th 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 in the last quarter. Finally, Capital A Wealth Management LLC bought a new stake in Palo Alto Networks during the 4th quarter valued at $29,000. Institutional investors own 79.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PANW. Roth Capital began coverage on shares of Palo Alto Networks in a research note on Thursday, May 15th. They set a "neutral" rating and a $210.00 price target for the company. Truist Financial decreased their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Barclays decreased their price target on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. TD Securities reiterated a "buy" rating and issued a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Finally, KeyCorp reiterated an "overweight" rating and issued a $220.00 target price on shares of Palo Alto Networks 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the transaction, the executive vice president owned 3,343,516 shares in the company, valued at approximately $646,502,253.76. This represents a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $201.05, for a total value of $160,840.00. Following the completion of the transaction, the chief accounting officer directly owned 42,033 shares in the company, valued at approximately $8,450,734.65. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 547,948 shares of company stock worth $103,462,223 over the last quarter. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

Palo Alto Networks stock traded up $2.57 during mid-day trading on Tuesday, reaching $203.99. The stock had a trading volume of 3,408,465 shares, compared to its average volume of 5,387,983. The company has a market capitalization of $136.02 billion, a price-to-earnings ratio of 116.57, a PEG ratio of 5.63 and a beta of 0.97. The company has a 50-day moving average price of $194.20 and a two-hundred day moving average price of $185.49. Palo Alto Networks, Inc. has a one year low of $142.01 and a one year high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 EPS. On average, equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

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.