Pursue Wealth Partners LLC Has $1 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Pursue Wealth Partners LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 82.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,866 shares of the network technology company's stock after selling 28,402 shares during the quarter. Pursue Wealth Partners LLC's holdings in Palo Alto Networks were worth $1,001,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Uniting Wealth Partners LLC bought a new stake in Palo Alto Networks in the fourth quarter valued at approximately $548,000. Rehmann Capital Advisory Group increased its position in shares of Palo Alto Networks by 106.4% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company's stock worth $433,000 after buying an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Palo Alto Networks by 94.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company's stock worth $2,122,000 after buying an additional 5,658 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in Palo Alto Networks by 108.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company's stock valued at $3,886,000 after buying an additional 11,095 shares during the period. Finally, National Pension Service boosted its position in Palo Alto Networks by 82.1% during the fourth quarter. National Pension Service now owns 1,345,740 shares of the network technology company's stock valued at $244,871,000 after acquiring an additional 606,778 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total value of $39,281,220.22. Following the completion of the transaction, the chief executive officer now owns 317,571 shares of the company's stock, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the sale, the executive vice president now owns 321,774 shares in the company, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 789,736 shares of company stock valued at $139,837,528. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Down 0.3%

Shares of NASDAQ PANW opened at $199.24 on Monday. The company has a market cap of $132.85 billion, a P/E ratio of 113.85, a P/E/G ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a 52 week low of $142.01 and a 52 week high of $208.39. The business has a 50-day simple moving average of $187.43 and a two-hundred day simple moving average of $185.08.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released 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 company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $0.66 earnings per share. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PANW shares. JPMorgan Chase & Co. decreased their price target on shares of Palo Alto Networks from $225.00 to $221.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. KeyCorp reissued an "overweight" rating and issued a $220.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Truist Financial lowered their target price on 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. Wells Fargo & Company increased their target price on Palo Alto Networks from $225.00 to $235.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Finally, 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. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $208.00.

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.

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