Pursue Wealth Partners LLC Sells 9,678 Shares of Palo Alto Networks, Inc. $PANW

Key Points

• Pursue Wealth Partners LLC cut its stake in Palo Alto Networks by 89.9%, selling 9,678 shares and leaving the firm with 1,086 shares worth about $200,000 at quarter end.
• Company insiders have been net sellers recently — CAO Josh D. Paul sold 1,100 shares and Director John P. Key sold 1,572 shares, with insiders offloading 30,356 shares worth $4.98M in the past 90 days (insiders now own 1.40% of the stock).
• Palo Alto Networks opened at $164.11, trades in a 52-week range of $139.57–$223.61 with a market cap of ~$133.9B and a P/E of 90.7, and holds an average analyst rating of “Moderate Buy” with an average target of $209.95.

Pursue Wealth Partners LLC decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 89.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,086 shares of the network technology company's stock after selling 9,678 shares during the period. Pursue Wealth Partners LLC's holdings in Palo Alto Networks were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PANW. Darwin Wealth Management LLC acquired a new position in Palo Alto Networks during the 2nd quarter valued at about $25,000. Steph & Co. lifted its position in shares of Palo Alto Networks by 88.2% during the 4th quarter. Steph & Co. now owns 143 shares of the network technology company's stock worth $26,000 after buying an additional 67 shares in the last quarter. Winch Advisory Services LLC lifted its position in shares of Palo Alto Networks by 96.1% during the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company's stock worth $30,000 after buying an additional 73 shares in the last quarter. Caitlin John LLC bought a new position in shares of Palo Alto Networks during the 3rd quarter worth approximately $31,000. Finally, Painted Porch Advisors LLC increased its stake in shares of Palo Alto Networks by 72.7% during the 3rd quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company's stock worth $31,000 after purchasing an additional 64 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Josh D. Paul sold 1,100 shares of the company's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $161.40, for a total transaction of $177,540.00. Following the completion of the sale, the chief accounting officer directly owned 83,136 shares in the company, valued at $13,418,150.40. This represents a 1.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John P. Key sold 1,572 shares of the company's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $173.32, for a total transaction of $272,459.04. Following the sale, the director owned 20,000 shares of the company's stock, valued at $3,466,400. This represents a 7.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,356 shares of company stock worth $4,981,575 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock opened at $164.11 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $139.57 and a 52-week high of $223.61. The stock has a market capitalization of $133.91 billion, a price-to-earnings ratio of 90.67, a price-to-earnings-growth ratio of 5.83 and a beta of 0.77. The company has a fifty day moving average of $160.20 and a 200-day moving average of $183.79.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.09. Palo Alto Networks had a net margin of 12.96% and a return on equity of 17.60%. The company had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.58 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The firm's revenue was up 14.9% on a year-over-year basis. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PANW. Daiwa Securities Group decreased their price target on shares of Palo Alto Networks from $212.00 to $175.00 and set an "outperform" rating for the company in a research note on Tuesday, February 24th. Scotiabank reiterated an "outperform" rating on shares of Palo Alto Networks in a research note on Wednesday, February 18th. Arete Research raised shares of Palo Alto Networks from a "sell" rating to a "buy" rating and set a $185.00 price target on the stock in a report on Tuesday, March 3rd. Wells Fargo & Company initiated coverage on shares of Palo Alto Networks in a report on Tuesday, March 3rd. They issued an "overweight" rating and a $200.00 price target on the stock. Finally, The Goldman Sachs Group cut their price objective on Palo Alto Networks from $240.00 to $224.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $209.95.

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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