Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Atria Investments Inc

Atria Investments Inc cut its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,092 shares of the network technology company's stock after selling 4,220 shares during the period. Atria Investments Inc's holdings in Palo Alto Networks were worth $9,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Csenge Advisory Group increased its holdings in shares of Palo Alto Networks by 2.4% in the 1st quarter. Csenge Advisory Group now owns 2,271 shares of the network technology company's stock valued at $381,000 after acquiring an additional 53 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Palo Alto Networks by 64.0% during the fourth 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 in the last quarter. SYM FINANCIAL Corp grew its stake in Palo Alto Networks by 1.4% during the 1st quarter. SYM FINANCIAL Corp now owns 4,047 shares of the network technology company's stock worth $691,000 after buying an additional 55 shares during the last quarter. Crew Capital Management Ltd. boosted its holdings in Palo Alto Networks by 2.5% in the first quarter. Crew Capital Management Ltd. now owns 2,310 shares of the network technology company's stock worth $394,000 after acquiring an additional 57 shares in the last quarter. Finally, JDM Financial Group LLC raised its position in shares of Palo Alto Networks by 22.4% in the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after purchasing an additional 59 shares during the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Dipak Golechha sold 5,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $201.85, for a total value of $1,009,250.00. Following the completion of the transaction, the executive vice president directly owned 101,135 shares in the company, valued at approximately $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total value of $19,866,000.00. Following the completion of the transaction, the executive vice president directly owned 3,243,516 shares in the company, valued at $644,356,888.56. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 569,248 shares of company stock valued at $111,279,829. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PANW shares. TD Securities reaffirmed a "buy" rating and set a $230.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Barclays dropped 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 note on Wednesday, May 21st. Guggenheim restated a "sell" rating and set a $130.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. KeyCorp restated an "overweight" rating and set a $220.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Jefferies Financial Group increased their target price on Palo Alto Networks from $225.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $209.42.

Palo Alto Networks Trading Up 1.0%

PANW stock traded up $2.11 during trading on Friday, hitting $203.27. 3,457,359 shares of the company's stock were exchanged, compared to its average volume of 4,288,193. Palo Alto Networks, Inc. has a 52-week low of $142.01 and a 52-week high of $208.39. The stock has a market capitalization of $135.54 billion, a price-to-earnings ratio of 116.15, a PEG ratio of 5.62 and a beta of 0.97. The business has a 50-day moving average price of $196.34 and a two-hundred day moving average price of $186.72.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued 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 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 period in the prior year, the business posted $0.66 EPS. The company's revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research 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.