Savant Capital LLC Sells 11,552 Shares of Palo Alto Networks, Inc. $PANW

Savant Capital LLC trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 33.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,029 shares of the network technology company’s stock after selling 11,552 shares during the period. Savant Capital LLC’s holdings in Palo Alto Networks were worth $4,697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PANW. Darwin Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the 2nd quarter worth approximately $25,000. Whipplewood Advisors LLC raised its position in Palo Alto Networks by 6,400.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after purchasing an additional 128 shares during the period. Briaud Financial Planning Inc bought a new stake in Palo Alto Networks in the second quarter worth $28,000. Howard Hughes Medical Institute bought a new stake in Palo Alto Networks in the second quarter worth $29,000. Finally, MTM Investment Management LLC purchased a new stake in Palo Alto Networks during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of several analyst reports. Rosenblatt Securities lifted their price objective on Palo Alto Networks from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, November 18th. Cantor Fitzgerald restated an “overweight” rating on shares of Palo Alto Networks in a research report on Monday, November 24th. Evercore lifted their price target on Palo Alto Networks from $220.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Stephens increased their price objective on Palo Alto Networks from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday, November 20th. Finally, Robert W. Baird raised their target price on shares of Palo Alto Networks from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. Thirty-one analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $229.09.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 800 shares of Palo Alto Networks stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $184.81, for a total transaction of $147,848.00. Following the sale, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at approximately $8,502,184.05. The trade was a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the transaction, the executive vice president owned 155,119 shares in the company, valued at $29,190,293.42. This trade represents a 3.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 260,542 shares of company stock worth $49,910,995. 1.40% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $159.32 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $144.15 and a fifty-two week high of $223.61. The firm has a market cap of $111.05 billion, a P/E ratio of 100.84, a P/E/G ratio of 3.69 and a beta of 0.75. The business’s 50 day moving average price is $185.05 and its 200-day moving average price is $193.51.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.46 billion. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The firm’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 earnings per share. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.