ORG Partners LLC Trims Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

ORG Partners LLC lessened its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 48.6% in the first quarter, Holdings Channel reports. The fund owned 481 shares of the network technology company’s stock after selling 455 shares during the quarter. ORG Partners LLC’s holdings in Palo Alto Networks were worth $134,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of 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 grew its holdings in Palo Alto Networks by 50.0% during the fourth quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after purchasing an additional 100 shares during the period. Beacon Pointe Advisors LLC grew its holdings in Palo Alto Networks by 31.4% during the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after purchasing an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Palo Alto Networks by 9.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after purchasing an additional 2,225 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in Palo Alto Networks by 91.0% during the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after purchasing an additional 802 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

PANW traded up $5.53 during trading on Friday, hitting $336.57. 1,423,928 shares of the stock were exchanged, compared to its average volume of 4,657,300. The firm has a 50 day simple moving average of $315.69 and a 200 day simple moving average of $309.27. The firm has a market cap of $108.98 billion, a price-to-earnings ratio of 48.81, a P/E/G ratio of 5.16 and a beta of 1.14. Palo Alto Networks, Inc. has a 1 year low of $201.17 and a 1 year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PANW shares. Daiwa Capital Markets started coverage on Palo Alto Networks in a research note on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price objective for the company. Redburn Atlantic upped their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Wedbush reaffirmed an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Twelve analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total transaction of $10,376,640.00. Following the sale, the executive vice president now owns 1,295,567 shares of the company’s stock, valued at approximately $373,434,232.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Lee Klarich sold 121,276 shares of the firm’s 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 sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $49,895,983.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $288.24, for a total value of $10,376,640.00. Following the completion of the sale, the executive vice president now directly 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. In the last 90 days, insiders have sold 428,391 shares of company stock valued at $136,147,317. 3.30% of the stock is currently owned by corporate insiders.

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.