Secure Asset Management LLC Lowers Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Secure Asset Management LLC decreased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,669 shares of the network technology company's stock after selling 1,576 shares during the period. Secure Asset Management LLC's holdings in Palo Alto Networks were worth $1,821,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC purchased a new stake in shares of Palo Alto Networks in the 4th quarter valued at $25,000. Strategic Investment Solutions Inc. IL boosted its stake in shares of 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 valued at $26,000 after purchasing an additional 55 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its stake in shares of Palo Alto Networks by 265.0% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company's stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 79 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company's stock valued at $28,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 79.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PANW shares. Stephens cut shares of Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 1st. TD Securities reissued a "buy" rating and set a $230.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Northland Securities dropped their price target on shares of Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating for the company in a research report on Wednesday, May 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $223.00 price target on shares of Palo Alto Networks in a research report on Monday, May 19th. Finally, UBS Group raised their target price on shares of Palo Alto Networks from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Two equities research 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, Palo Alto Networks presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.00.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $172.73, for a total transaction of $39,281,220.22. Following the transaction, the chief executive officer now owns 317,571 shares in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 120,774 shares of the business'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 transaction, the executive vice president now owns 321,774 shares in the company, valued at $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 have sold 668,962 shares of company stock worth $116,269,690. Insiders own 2.50% of the company's stock.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $3.11 on Thursday, hitting $197.18. 3,540,615 shares of the company traded hands, compared to its average volume of 5,531,417. The stock has a market capitalization of $131.48 billion, a P/E ratio of 111.09, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02. 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 $179.38 and a 200 day simple moving average of $185.03.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.28 billion. During the same quarter last year, the business posted $0.66 earnings per share. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current year.

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.