SVB Wealth LLC Sells 554 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

SVB Wealth LLC lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,635 shares of the network technology company’s stock after selling 554 shares during the period. SVB Wealth LLC’s holdings in Palo Alto Networks were worth $2,546,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PANW. GSG Advisors LLC grew its holdings in Palo Alto Networks by 1.0% during the fourth quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock valued at $1,478,000 after purchasing an additional 51 shares during the period. Spirit of America Management Corp NY increased its holdings in Palo Alto Networks by 50.0% in the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock worth $88,000 after acquiring an additional 100 shares in the last quarter. Truist Financial Corp raised its stake in Palo Alto Networks by 148.9% during the 3rd quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after acquiring an additional 113,534 shares during the period. Treasurer of the State of North Carolina raised its stake in Palo Alto Networks by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after acquiring an additional 735 shares during the period. Finally, StoneCrest Wealth Management Inc. purchased a new position in Palo Alto Networks during the fourth quarter valued at approximately $3,135,000. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $56,327,194.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now directly owns 27,247 shares in the company, valued at approximately $7,629,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the transaction, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at $56,327,194.65. The disclosure for this sale can be found here. Insiders sold 167,917 shares of company stock worth $49,395,553 over the last three months. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

PANW opened at $277.33 on Thursday. The stock’s 50 day moving average price is $299.16 and its 200-day moving average price is $290.18. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84. The stock has a market cap of $89.61 billion, a price-to-earnings ratio of 43.33, a P/E/G ratio of 3.75 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. As a group, analysts predict that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research report on Monday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $345.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, February 21st. 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 report on Wednesday, February 21st. Citigroup lifted their target price on Palo Alto Networks from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Scotiabank dropped their price target on Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating for the company in a research note on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.46.

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.