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

Stratos Wealth Advisors LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,207 shares of the network technology company's stock after selling 1,746 shares during the period. Stratos Wealth Advisors LLC's holdings in Palo Alto Networks were worth $8,397,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Rosenblatt Securities restated a "buy" rating and set a $235.00 price target on shares of Palo Alto Networks in a report on Tuesday, May 20th. TD Securities restated a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Morgan Stanley dropped their price target on Palo Alto Networks from $230.00 to $205.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Roth Capital started coverage on Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective for the company. Finally, Guggenheim reaffirmed a "sell" rating and set a $130.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two 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, the company has a consensus rating of "Moderate Buy" and an average price target of $208.00.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $201.05, for a total transaction of $160,840.00. Following the transaction, the chief accounting officer owned 42,033 shares in the company, valued at $8,450,734.65. The trade was a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $200.86, for a total value of $24,258,665.64. Following the transaction, the executive vice president owned 235,482 shares in the company, valued at approximately $47,298,914.52. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 669,248 shares of company stock valued at $127,820,829 in the last ninety days. Company insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Down 6.8%

Shares of NASDAQ:PANW traded down $13.99 during midday trading on Thursday, reaching $192.07. The company's stock had a trading volume of 9,150,864 shares, compared to its average volume of 5,440,545. The firm has a market cap of $128.07 billion, a price-to-earnings ratio of 109.75, a price-to-earnings-growth ratio of 5.69 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. The business has a 50 day moving average price of $194.93 and a 200 day moving average price of $185.76.

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

About Palo Alto Networks

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.