Western Wealth Management LLC Sells 5,213 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Western Wealth Management LLC lessened its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,541 shares of the network technology company's stock after selling 5,213 shares during the period. Western Wealth Management LLC's holdings in Palo Alto Networks were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Grassi Investment Management increased its position in shares of Palo Alto Networks by 161.1% in the fourth quarter. Grassi Investment Management now owns 7,910 shares of the network technology company's stock worth $1,439,000 after acquiring an additional 4,880 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its position in Palo Alto Networks by 100.0% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 3,296 shares of the network technology company's stock valued at $600,000 after buying an additional 1,648 shares during the period. Avior Wealth Management LLC grew its stake in Palo Alto Networks by 31.2% during the 4th quarter. Avior Wealth Management LLC now owns 702 shares of the network technology company's stock valued at $128,000 after acquiring an additional 167 shares in the last quarter. Inspire Investing LLC boosted its position in shares of Palo Alto Networks by 70.3% in the fourth quarter. Inspire Investing LLC now owns 1,420 shares of the network technology company's stock valued at $258,000 after acquiring an additional 586 shares during the period. Finally, New Century Financial Group LLC increased its position in Palo Alto Networks by 77.6% during the fourth quarter. New Century Financial Group LLC now owns 1,527 shares of the network technology company's stock worth $280,000 after acquiring an additional 667 shares during the period. Institutional investors own 79.82% of the company's stock.

Insider Activity

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $189.27, for a total value of $22,858,894.98. Following the completion of the sale, the executive vice president now owns 293,010 shares in the company, valued at approximately $55,458,002.70. This trade represents a 29.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 227,414 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 in the company, valued at $54,854,038.83. The trade was a 41.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 568,962 shares of company stock worth $96,933,690 over the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on PANW shares. JMP Securities upped their price objective on shares of Palo Alto Networks from $208.00 to $212.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Guggenheim reissued a "sell" rating and issued a $130.00 target price on shares of Palo Alto Networks in a research note on Wednesday, May 21st. Barclays cut their price target on shares of 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. Rosenblatt Securities reiterated a "buy" rating and issued a $235.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 20th. Finally, TD Securities restated a "buy" rating and set a $230.00 target price on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $206.40.

Palo Alto Networks Stock Down 1.1%

Shares of NASDAQ:PANW traded down $1.98 during midday trading on Thursday, hitting $185.82. The stock had a trading volume of 4,464,620 shares, compared to its average volume of 5,585,928. The company's 50-day moving average price is $178.27 and its 200-day moving average price is $185.22. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39. The company has a market capitalization of $123.90 billion, a P/E ratio of 104.69, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly 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 net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the firm posted $0.66 EPS. Palo Alto Networks's revenue was up 15.3% compared to the same quarter last year. Research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

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.