Angeles Wealth Management LLC Sells 441 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Angeles Wealth Management LLC decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 34.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 826 shares of the network technology company’s stock after selling 441 shares during the period. Angeles Wealth Management LLC’s holdings in Palo Alto Networks were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. GSG Advisors LLC raised its holdings in shares of 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 last quarter. Spirit of America Management Corp NY raised its position in shares of Palo Alto Networks by 50.0% during the 4th 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 boosted its stake in shares of Palo Alto Networks by 31.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock worth $33,038,000 after acquiring an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Palo Alto Networks by 9.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock worth $7,291,000 after purchasing an additional 2,225 shares during the period. Finally, Sunbelt Securities Inc. grew its stake 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 acquiring an additional 802 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded down $11.00 during trading hours on Thursday, hitting $321.14. The company’s stock had a trading volume of 1,669,192 shares, compared to its average volume of 4,582,894. The firm has a fifty day moving average of $318.55 and a 200-day moving average of $310.46. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The stock has a market cap of $103.99 billion, a price-to-earnings ratio of 47.05, a P/E/G ratio of 5.18 and a beta of 1.14.

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

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the sale, the executive vice president now directly owns 166,542 shares in the company, valued at $55,791,570. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $335.00, for a total value of $42,165,110.00. Following the sale, the executive vice president now directly owns 166,542 shares in the company, valued at $55,791,570. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’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 transaction, the executive vice president now directly owns 1,295,567 shares of the company’s stock, valued at $373,434,232.08. The disclosure for this sale can be found here. Insiders sold a total of 428,391 shares of company stock worth $136,147,317 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PANW. Royal Bank of Canada decreased their price objective on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Evercore ISI dropped their target price on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating for the company in a report on Tuesday, May 14th. JPMorgan Chase & Co. boosted their target price on Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. KeyCorp lowered their price target on Palo Alto Networks from $384.00 to $380.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Robert W. Baird boosted their price objective on shares of Palo Alto Networks from $340.00 to $360.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $325.59.

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.