Whalen Wealth Management Inc. Cuts Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Whalen Wealth Management Inc. lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 38.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,257 shares of the network technology company's stock after selling 1,425 shares during the quarter. Whalen Wealth Management Inc.'s holdings in Palo Alto Networks were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL lifted its stake in Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company's stock valued at $26,000 after acquiring an additional 55 shares during the period. JDM Financial Group LLC lifted its holdings in shares of Palo Alto Networks by 22.4% during the 4th quarter. JDM Financial Group LLC now owns 322 shares of the network technology company's stock valued at $59,000 after buying an additional 59 shares during the period. Adero Partners LLC boosted its stake in shares of Palo Alto Networks by 4.3% in the 1st quarter. Adero Partners LLC now owns 1,556 shares of the network technology company's stock worth $266,000 after buying an additional 64 shares during the last quarter. Snider Financial Group grew its holdings in shares of Palo Alto Networks by 0.4% in the first quarter. Snider Financial Group now owns 17,729 shares of the network technology company's stock worth $3,025,000 after acquiring an additional 65 shares during the period. Finally, Grimes & Company Inc. increased its position in Palo Alto Networks by 5.3% during the first quarter. Grimes & Company Inc. now owns 1,310 shares of the network technology company's stock valued at $224,000 after acquiring an additional 66 shares during the last quarter. Institutional investors own 79.82% of the company's stock.

Insider Activity

In other news, EVP Lee Klarich sold 120,774 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $195.14, for a total value of $23,567,838.36. Following the transaction, the executive vice president now directly owns 264,246 shares in the company, valued at approximately $51,564,964.44. This represents a 31.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the sale, the executive vice president now owns 3,343,516 shares of the company's stock, valued at $646,502,253.76. The trade was a 2.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 789,736 shares of company stock valued at $139,837,528. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the company an "outperform" rating in a research report on Wednesday, May 21st. KeyCorp reiterated an "overweight" rating and issued a $220.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Rosenblatt Securities reissued a "buy" rating and set a $235.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 20th. Citigroup upped their price objective on Palo Alto Networks from $205.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, February 25th. Finally, Northland Securities lowered their target price on Palo Alto Networks from $210.00 to $177.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.00.

Palo Alto Networks Stock Performance

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. The business's 50 day moving average price is $187.43 and its 200-day moving average price is $185.08. Palo Alto Networks, Inc. has a fifty-two week low of $142.01 and a fifty-two week high of $208.39.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.28 billion. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 EPS. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current 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.

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