Oxler Private Wealth LLC Has $389,000 Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Oxler Private Wealth LLC lessened its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 82.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,320 shares of the network technology company's stock after selling 6,300 shares during the quarter. Oxler Private Wealth LLC's holdings in Palo Alto Networks were worth $389,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Webster Bank N. A. boosted its holdings in Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company's stock worth $29,000 after acquiring an additional 85 shares during the period. Cedar Mountain Advisors LLC boosted its holdings in Palo Alto Networks by 87.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company's stock worth $30,000 after acquiring an additional 47 shares during the period. MV Capital Management Inc. boosted its holdings in Palo Alto Networks by 37.2% in the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company's stock worth $32,000 after acquiring an additional 29 shares during the period. First United Bank & Trust purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $35,000. Finally, Alaska Permanent Fund Corp purchased a new position in shares of Palo Alto Networks during the 4th quarter valued at approximately $42,000. Institutional investors and hedge funds own 79.82% of the company's stock.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 121,276 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the transaction, the executive vice president now owns 166,542 shares in the company, valued at approximately $49,895,983.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Lee Klarich sold 121,276 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the transaction, the executive vice president now owns 166,542 shares in the company, valued at approximately $49,895,983.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00. Following the completion of the transaction, the executive vice president now owns 1,295,567 shares of the company's stock, valued at approximately $373,434,232.08. The disclosure for this sale can be found here. Insiders sold 280,193 shares of company stock worth $80,670,132 in the last quarter. 3.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PANW shares. Northland Securities cut Palo Alto Networks from an "outperform" rating to a "market perform" rating and set a $275.00 target price for the company. in a research note on Wednesday, February 21st. Rosenblatt Securities cut Palo Alto Networks from a "buy" rating to a "neutral" rating and reduced their target price for the company from $290.00 to $265.00 in a research note on Wednesday, February 21st. The Goldman Sachs Group increased their target price on Palo Alto Networks from $274.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on Palo Alto Networks from $330.00 to $340.00 and gave the company an "overweight" rating in a research note on Thursday, May 16th. Finally, Truist Financial raised their price objective on Palo Alto Networks from $330.00 to $385.00 and gave the stock a "buy" rating in a research note on Tuesday, February 20th. Twelve research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company's stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and an average target price of $317.45.

Palo Alto Networks Trading Down 1.0 %

PANW stock traded down $3.08 during trading hours on Wednesday, hitting $308.58. 4,526,112 shares of the stock traded hands, compared to its average volume of 5,180,038. The stock has a 50-day simple moving average of $289.10 and a 200 day simple moving average of $299.07. Palo Alto Networks, Inc. has a one year low of $188.83 and a one year high of $380.84. The company has a market cap of $99.70 billion, a P/E ratio of 44.85, a P/E/G ratio of 4.40 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a return on equity of 37.81% and a net margin of 31.42%. The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.97 billion. During the same quarter last year, the business posted $0.38 earnings per share. The company's quarterly revenue was up 15.3% on a year-over-year basis. Analysts forecast that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Palo Alto Networks Company 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.