Secured Retirement Advisors LLC Sells 7,071 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Secured Retirement Advisors LLC lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 57.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,177 shares of the network technology company's stock after selling 7,071 shares during the period. Secured Retirement Advisors LLC's holdings in Palo Alto Networks were worth $883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Transce3nd LLC acquired a new position in Palo Alto Networks during the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL lifted its position 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 worth $26,000 after acquiring an additional 55 shares during the last quarter. Anchor Investment Management LLC lifted 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 worth $28,000 after acquiring an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. lifted its position 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 worth $29,000 after acquiring an additional 75 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Palo Alto Networks during the 4th quarter worth $29,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the sale, the executive vice president owned 101,135 shares of the company's stock, valued at approximately $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aparna Bawa sold 526 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were 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. The trade was a 5.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 569,248 shares of company stock valued at $111,279,829 over the last three months. 2.50% of the stock is owned by insiders.

Palo Alto Networks Price Performance

Shares of PANW stock traded down $4.68 during trading hours on Friday, reaching $187.39. 7,403,780 shares of the company were exchanged, compared to its average volume of 5,419,524. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The stock's fifty day moving average is $195.04 and its two-hundred day moving average is $185.75. The company has a market cap of $124.95 billion, a price-to-earnings ratio of 107.08, a P/E/G ratio of 5.23 and a beta of 0.97.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its 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. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the business earned $0.66 earnings per share. Palo Alto Networks's quarterly revenue was up 15.3% on a year-over-year basis. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

PANW has been the subject of a number of research analyst reports. Barclays cut 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. Jefferies Financial Group boosted their price objective on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Morgan Stanley dropped their price objective on shares of Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Rosenblatt Securities restated a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a report on Tuesday, May 20th. Finally, Hsbc Global Res upgraded shares of Palo Alto Networks from a "moderate sell" rating to a "hold" rating in a report on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $208.00.

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.