Weatherly Asset Management L. P. Has $5.08 Million Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Weatherly Asset Management L. P. cut its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,976 shares of the network technology company’s stock after selling 1,070 shares during the period. Weatherly Asset Management L. P.’s holdings in Palo Alto Networks were worth $5,077,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks during the first quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of 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 worth $28,000 after acquiring an additional 96 shares during the period. Ulland Investment Advisors LLC acquired a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $30,000. Finally, Central Bank & Trust Co. raised its stake in Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on PANW shares. Susquehanna upped their price objective on shares of Palo Alto Networks from $325.00 to $340.00 and gave the company a “positive” rating in a report on Tuesday, May 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Royal Bank of Canada raised their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Sanford C. Bernstein upped their target price on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, Truist Financial increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $364.08.

Insider Buying and Selling

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 3rd. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The disclosure for this sale can be found here. Insiders have sold a total of 376,372 shares of company stock worth $121,925,593 in the last ninety days. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 1.3 %

Shares of NASDAQ:PANW traded up $4.51 during trading on Friday, hitting $362.72. 2,988,576 shares of the company were exchanged, compared to its average volume of 3,892,995. Palo Alto Networks, Inc. has a 1-year low of $224.64 and a 1-year high of $380.84. The company has a market capitalization of $117.45 billion, a P/E ratio of 52.72, a price-to-earnings-growth ratio of 4.82 and a beta of 1.14. The business’s 50 day moving average is $333.84 and its 200-day moving average is $310.72.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

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.