Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly reduced its holdings in Palo Alto Networks by 83.9%, selling 20,727 shares and leaving them with 3,990 shares worth $681,000 as of their latest SEC filing.
• Palo Alto Networks reported earnings of $0.80 per share, beating estimates, with a revenue of $2.29 billion for the quarter, reflecting a 15.3% year-over-year growth.
• Institutional investors own 79.82% of Palo Alto Networks' stock, with various funds increasing their positions in the company during the fourth quarter.

Callan Family Office LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 83.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 3,990 shares of the network technology company's stock after selling 20,727 shares during the quarter. Callan Family Office LLC's holdings in Palo Alto Networks were worth $681,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Transce3nd LLC acquired a new stake in shares of Palo Alto Networks during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL lifted its holdings in shares of 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 boosted its position 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 during the period. Capital A Wealth Management LLC bought a new position in Palo Alto Networks during the 4th quarter worth $29,000. Finally, HWG Holdings LP bought a new position in Palo Alto Networks during the 1st quarter worth $31,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $176.86 on Thursday. The firm's 50 day moving average price is $192.92 and its two-hundred day moving average price is $186.63. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $210.39. The stock has a market cap of $117.93 billion, a price-to-earnings ratio of 101.06, a PEG ratio of 4.16 and a beta of 0.94.

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 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. Palo Alto Networks's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. On average, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other news, EVP Nir Zuk sold 100,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $172.80, for a total value of $17,280,000.00. Following the transaction, the executive vice president owned 3,143,516 shares in the company, valued at $543,199,564.80. This represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Aparna Bawa sold 526 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $190.00, for a total transaction of $99,940.00. Following the completion of the sale, the director directly owned 8,632 shares of the company's stock, valued at $1,640,080. This trade represents a 5.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 669,248 shares of company stock worth $126,423,337. Company insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PANW. DA Davidson cut their target price on Palo Alto Networks from $225.00 to $215.00 and set a "buy" rating on the stock in a research note on Thursday, July 31st. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Piper Sandler upgraded shares of Palo Alto Networks from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $200.00 to $225.00 in a research report on Tuesday. Roth Capital initiated coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They issued a "neutral" rating and a $210.00 target price for the company. Finally, Barclays decreased their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $217.52.

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.

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