Institute for Wealth Management LLC. Sells 202 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Institute for Wealth Management LLC. lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,833 shares of the network technology company’s stock after selling 202 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Palo Alto Networks were worth $2,310,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Worth Asset Management LLC bought a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $26,000. First Pacific Financial boosted its position in shares of Palo Alto Networks by 421.7% in the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in shares of Palo Alto Networks in the second quarter valued at approximately $28,000. Fortis Capital Advisors LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $28,000. Finally, Webster Bank N. A. boosted its position in shares of Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PANW. KeyCorp reduced their price objective on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating for the company in a research report on Thursday. Evercore ISI upped their target price on Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research note on Wednesday, February 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a research note on Wednesday. Finally, Susquehanna cut their target price on Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating for the company in a research note on Monday, February 26th. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $314.82.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the sale, the executive vice president now owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the transaction, the executive vice president now directly owns 198,105 shares in the company, valued at approximately $67,955,958.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is owned by insiders.

Palo Alto Networks Trading Down 1.1 %

Shares of NASDAQ PANW traded down $3.23 during mid-day trading on Friday, reaching $277.91. 3,507,914 shares of the company’s stock were exchanged, compared to its average volume of 5,567,176. The business has a fifty day simple moving average of $297.44 and a 200 day simple moving average of $290.12. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84. The firm has a market capitalization of $89.79 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 3.78 and a beta of 1.19.

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

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.