Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. cut its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,585 shares of the network technology company’s stock after selling 4,244 shares during the period. Atria Wealth Solutions Inc.’s holdings in Palo Alto Networks were worth $10,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks in the 1st quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks in the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. Ulland Investment Advisors LLC bought a new position in Palo Alto Networks in the 1st quarter worth about $30,000. Finally, Central Bank & Trust Co. increased its stake in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $293.31, for a total value of $10,559,160.00. Following the transaction, the executive vice president now directly owns 1,259,567 shares of the company’s stock, valued at $369,443,596.77. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the completion of the transaction, the executive vice president now directly owns 1,259,567 shares in the company, valued at approximately $369,443,596.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Key sold 2,163 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the sale, the director now owns 12,639 shares in the company, valued at $3,860,076.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 367,993 shares of company stock valued at $118,938,210. 3.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. DA Davidson raised their target price on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday. Argus increased their target price on Palo Alto Networks from $336.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Rosenblatt Securities lifted their target price on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research note on Monday. Susquehanna raised their price target on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research note on Tuesday, May 21st. Finally, BTIG Research boosted their price target on Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $363.49.

Palo Alto Networks Stock Performance

PANW traded down $8.26 during midday trading on Wednesday, hitting $359.75. The company had a trading volume of 4,999,238 shares, compared to its average volume of 4,444,848. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84. The company has a market capitalization of $116.49 billion, a PE ratio of 52.29, a P/E/G ratio of 4.48 and a beta of 1.14. The firm’s 50-day simple moving average is $328.90 and its 200-day simple moving average is $311.18.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal 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.