Palo Alto Networks, Inc. (NASDAQ:PANW) is Private Capital Advisors Inc.'s 4th Largest Position

Private Capital Advisors Inc. reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,366 shares of the network technology company's stock after selling 2,182 shares during the period. Palo Alto Networks makes up about 3.1% of Private Capital Advisors Inc.'s investment portfolio, making the stock its 4th biggest position. Private Capital Advisors Inc.'s holdings in Palo Alto Networks were worth $26,000,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Transce3nd LLC bought a new position in Palo Alto Networks in the 4th quarter worth $25,000. Strategic Investment Solutions Inc. IL raised its holdings in Palo Alto Networks by 64.0% in the 4th 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 during the period. Kiely Wealth Advisory Group Inc. raised its holdings in Palo Alto Networks by 100.0% during the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company's stock valued at $29,000 after acquiring an additional 75 shares during the period. Anchor Investment Management LLC raised its holdings in Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after acquiring an additional 78 shares during the period. Finally, Capital A Wealth Management LLC bought a new stake in Palo Alto Networks during the fourth quarter valued at about $29,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $3.69 during trading hours on Thursday, hitting $196.28. 4,297,753 shares of the company's stock traded hands, compared to its average volume of 5,411,937. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39. The business has a fifty day moving average price of $195.41 and a 200-day moving average price of $185.94. The firm has a market capitalization of $130.88 billion, a P/E ratio of 112.16, a price-to-earnings-growth ratio of 5.38 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, beating the consensus estimate 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 analyst estimates of $2.28 billion. During the same quarter in the previous year, the business earned $0.66 earnings per share. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on PANW. Cantor Fitzgerald reissued an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a report on Monday, May 19th. HSBC raised Palo Alto Networks from a "reduce" rating to a "hold" rating and set a $156.00 price target on the stock in a report on Thursday, April 10th. Northland Securities decreased their price target on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a report on Wednesday, May 21st. Truist Financial decreased their price target on Palo Alto Networks from $213.00 to $205.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Guggenheim reaffirmed a "sell" rating and issued a $130.00 target price on shares of Palo Alto Networks in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 100,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 3,243,516 shares in the company, valued at approximately $644,356,888.56. The trade was a 2.99% 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, EVP Dipak Golechha sold 5,000 shares of the business'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 $20,414,099.75. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 569,248 shares of company stock valued at $111,279,829 in the last ninety days. Corporate insiders own 2.50% of the company's stock.

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.