Wealth Quarterback LLC Has $998,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Wealth Quarterback LLC cut its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 24.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,848 shares of the network technology company's stock after selling 1,855 shares during the period. Wealth Quarterback LLC's holdings in Palo Alto Networks were worth $998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sargent Investment Group LLC lifted its stake in Palo Alto Networks by 18.2% in the first quarter. Sargent Investment Group LLC now owns 1,724 shares of the network technology company's stock valued at $294,000 after buying an additional 265 shares during the period. Lindbrook Capital LLC boosted its stake in Palo Alto Networks by 5.1% in the 1st quarter. Lindbrook Capital LLC now owns 8,142 shares of the network technology company's stock valued at $1,389,000 after purchasing an additional 394 shares during the period. Optimist Retirement Group LLC lifted its position in shares of Palo Alto Networks by 10.1% during the 1st quarter. Optimist Retirement Group LLC now owns 1,497 shares of the network technology company's stock valued at $255,000 after acquiring an additional 137 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Palo Alto Networks by 5.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 50,524 shares of the network technology company's stock worth $8,621,000 after buying an additional 2,452 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of Palo Alto Networks by 81.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 27,285 shares of the network technology company's stock worth $4,656,000 after buying an additional 12,247 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Aparna Bawa sold 526 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $190.00, for a total value of $99,940.00. Following the transaction, the director owned 8,632 shares in the company, valued at $1,640,080. This trade represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $200.86, for a total value of $24,258,665.64. Following the sale, the executive vice president directly owned 235,482 shares of the company's stock, valued at $47,298,914.52. This trade represents a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 569,248 shares of company stock worth $111,279,829. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 0.3%

NASDAQ PANW opened at $195.78 on Friday. The stock's 50-day moving average price is $195.58 and its 200-day moving average price is $186.06. The company has a market capitalization of $130.55 billion, a P/E ratio of 111.87, a price-to-earnings-growth ratio of 5.47 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.

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, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The company's revenue was up 15.3% compared to the same quarter last year. Research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on PANW. Guggenheim reaffirmed a "sell" rating and set a $130.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Stephens downgraded Palo Alto Networks from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 1st. Barclays dropped their price objective on Palo Alto Networks from $213.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, May 21st. Wells Fargo & Company upped 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, Truist Financial dropped their price target 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. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company's stock. According to data from MarketBeat, Palo Alto Networks has an average rating of "Moderate Buy" and a consensus target price of $209.16.

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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