Everpar Advisors LLC Sells 348 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Everpar Advisors LLC lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,076 shares of the network technology company’s stock after selling 348 shares during the quarter. Everpar Advisors LLC’s holdings in Palo Alto Networks were worth $525,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Palo Alto Networks by 104.4% in the 4th quarter. Vanguard Group Inc. now owns 61,233,907 shares of the network technology company’s stock valued at $11,142,122,000 after buying an additional 31,281,359 shares during the last quarter. Geode Capital Management LLC raised its holdings in Palo Alto Networks by 87.8% in the 4th quarter. Geode Capital Management LLC now owns 14,382,116 shares of the network technology company’s stock valued at $2,611,013,000 after buying an additional 6,725,148 shares during the last quarter. Capital Research Global Investors raised its holdings in Palo Alto Networks by 83.8% in the 4th quarter. Capital Research Global Investors now owns 8,427,062 shares of the network technology company’s stock valued at $1,533,419,000 after buying an additional 3,841,359 shares during the last quarter. Northern Trust Corp raised its holdings in Palo Alto Networks by 133.7% in the 4th quarter. Northern Trust Corp now owns 7,842,647 shares of the network technology company’s stock valued at $1,427,048,000 after buying an additional 4,486,654 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Palo Alto Networks by 17.6% in the 4th quarter. Ameriprise Financial Inc. now owns 7,277,739 shares of the network technology company’s stock valued at $1,324,387,000 after buying an additional 1,088,631 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 120,774 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $151.13, for a total value of $18,252,574.62. Following the transaction, the executive vice president now directly owns 321,774 shares of the company’s stock, valued at approximately $48,629,704.62. The trade was a 27.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 100,000 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $193.36, for a total transaction of $19,336,000.00. Following the completion of the transaction, the executive vice president now directly owns 3,343,516 shares in the company, valued at $646,502,253.76. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 789,736 shares of company stock valued at $139,837,528 in the last three months. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of research reports. Guggenheim reiterated a “sell” rating and issued a $130.00 price objective on shares of Palo Alto Networks in a report on Wednesday, May 21st. HSBC upgraded shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 price target on the stock in a research report on Thursday, April 10th. Morgan Stanley dropped their price target on shares of Palo Alto Networks from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. KeyCorp restated an “overweight” rating and issued a $220.00 price target on shares of Palo Alto Networks in a research report on Wednesday, May 21st. Finally, Sanford C. Bernstein set a $225.00 price target on shares of Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.00.

Palo Alto Networks Price Performance

PANW opened at $196.27 on Friday. The company has a market capitalization of $130.87 billion, a price-to-earnings ratio of 110.58, a P/E/G ratio of 5.64 and a beta of 0.97. The firm’s fifty day moving average price is $184.15 and its two-hundred day moving average price is $185.11. Palo Alto Networks, Inc. has a 1 year low of $142.01 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 EPS. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current 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.