Stratos Wealth Advisors LLC Has $8.40 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Stratos Wealth Advisors LLC cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PANW. Stratos Investment Management LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth $212,000. May Hill Capital LLC lifted its position in shares of Palo Alto Networks by 6.9% in the first quarter. May Hill Capital LLC now owns 1,293 shares of the network technology company's stock worth $221,000 after purchasing an additional 83 shares in the last quarter. Investment Partners LTD. purchased a new stake in shares of Palo Alto Networks in the first quarter worth approximately $280,000. Highview Capital Management LLC DE lifted its position in shares of Palo Alto Networks by 2.5% in the first quarter. Highview Capital Management LLC DE now owns 6,586 shares of the network technology company's stock worth $1,124,000 after purchasing an additional 160 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Palo Alto Networks by 13.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,653 shares of the network technology company's stock worth $8,473,000 after purchasing an additional 5,774 shares in the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PANW has been the topic of several recent research reports. Truist Financial cut their price objective on shares of Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Barclays cut their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 21st. KeyCorp reaffirmed an "overweight" rating and set a $220.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $223.00 price objective on shares of Palo Alto Networks in a research report on Monday, May 19th. Finally, Roth Capital started coverage on shares of Palo Alto Networks in a research report on Thursday, May 15th. They set a "neutral" rating and a $210.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the completion of the sale, the executive vice president directly owned 3,243,516 shares of the company's stock, valued at approximately $644,356,888.56. The trade was a 2.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 600 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $204.00, for a total value of $122,400.00. Following the sale, the chief accounting officer directly owned 41,433 shares of the company's stock, valued at $8,452,332. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 547,948 shares of company stock valued at $103,462,223. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Trading Up 1.3%

Shares of PANW traded up $2.57 during mid-day trading on Tuesday, hitting $203.99. 3,409,521 shares of the company traded hands, compared to its average volume of 5,387,990. The stock 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 business has a 50-day moving average of $194.20 and a 200 day moving average 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 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. The firm 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 business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. As a group, analysts anticipate 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.