Palo Alto Networks, Inc. $PANW Shares Sold by Jackson Wealth Management LLC

Key Points

• Jackson Wealth Management cut its Palo Alto Networks stake by 86.6% in the second quarter, selling 11,602 shares and retaining 1,793 shares valued at approximately $611,000.
• Institutional investors own 79.82% of PANW, while insiders have sold 37,735 shares worth $10.8 million over the past 90 days.
• Palo Alto Networks reported quarterly revenue of $3 billion and adjusted EPS of $0.85, beating analyst expectations; analysts maintain a “Moderate Buy” consensus with an average price target of $370.87.

Jackson Wealth Management LLC trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 86.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,793 shares of the network technology company's stock after selling 11,602 shares during the quarter. Jackson Wealth Management LLC's holdings in Palo Alto Networks were worth $611,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of PANW. BlackRock Inc. acquired a new position in shares of Palo Alto Networks in the 2nd quarter valued at approximately $25,833,462,000. Norges Bank acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth approximately $1,415,364,000. Legal & General Group Plc bought a new stake in shares of Palo Alto Networks in the second quarter worth $1,968,304,000. Bank of New York Mellon Corp bought a new stake in shares of Palo Alto Networks in the second quarter worth $1,569,755,000. Finally, Deutsche Bank AG acquired a new stake in Palo Alto Networks in the second quarter valued at $1,481,236,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 900 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $353.77, for a total value of $318,393.00. Following the sale, the chief accounting officer owned 73,354 shares in the company, valued at approximately $25,950,444.58. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aparna Bawa sold 290 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $348.74, for a total value of $101,134.60. Following the sale, the director directly owned 6,437 shares in the company, valued at approximately $2,244,839.38. This trade represents a 4.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 37,735 shares of company stock worth $10,814,266 over the last 90 days. Corporate insiders own 1.40% of the company's stock.

Palo Alto Networks Trading Up 2.8%

NASDAQ:PANW opened at $382.13 on Tuesday. The firm has a market capitalization of $311.44 billion, a P/E ratio of 313.22, a P/E/G ratio of 11.74 and a beta of 0.91. The business has a 50 day simple moving average of $346.54 and a 200 day simple moving average of $250.56. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. Palo Alto Networks, Inc. has a 12-month low of $139.57 and a 12-month high of $398.88.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its earnings results on Tuesday, June 2nd. The network technology company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.06. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.94 billion. Palo Alto Networks had a return on equity of 10.53% and a net margin of 7.95%.The firm's quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. Equities research analysts predict that Palo Alto Networks, Inc. will post 2.01 EPS for the current year.

Analysts Set New Price Targets

PANW has been the subject of several recent analyst reports. Stephens raised their price objective on shares of Palo Alto Networks from $180.00 to $300.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 3rd. Piper Sandler restated an "overweight" rating and issued a $345.00 target price (up from $265.00) on shares of Palo Alto Networks in a research note on Wednesday, June 3rd. Stifel Nicolaus set a $415.00 price target on shares of Palo Alto Networks and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Scotiabank reiterated an "outperform" rating and issued a $430.00 price target (up from $320.00) on shares of Palo Alto Networks in a research note on Monday. Finally, Evercore reissued an "outperform" rating on shares of Palo Alto Networks in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, forty have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and an average price target of $370.87.

About Palo Alto Networks

Palo Alto Networks NASDAQ: PANW is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company's product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.

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