Marietta Wealth Management LLC Sells 478 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Marietta Wealth Management LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,532 shares of the network technology company’s stock after selling 478 shares during the quarter. Palo Alto Networks makes up approximately 1.2% of Marietta Wealth Management LLC’s holdings, making the stock its 28th largest holding. Marietta Wealth Management LLC’s holdings in Palo Alto Networks were worth $6,945,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PANW. Worth Asset Management LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $26,000. First Pacific Financial lifted its position in shares of Palo Alto Networks by 421.7% during the third quarter. First Pacific Financial now owns 120 shares of the network technology company’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at $28,000. Fortis Capital Advisors LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth $28,000. Finally, Webster Bank N. A. boosted its holdings in Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Friday, April 5th. The stock was sold at an average price of $268.04, for a total value of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares of the company’s stock, valued at approximately $46,659,063. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.04, for a total transaction of $16,082,400.00. Following the completion of the transaction, the executive vice president now directly owns 174,075 shares in the company, valued at $46,659,063. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,917 shares of company stock valued at $49,395,553. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Up 0.8 %

Shares of NASDAQ:PANW traded up $2.11 during trading on Tuesday, reaching $274.26. 1,563,755 shares of the stock were exchanged, compared to its average volume of 5,624,733. The stock has a 50-day moving average price of $302.23 and a 200-day moving average price of $289.99. Palo Alto Networks, Inc. has a 12 month low of $176.30 and a 12 month high of $380.84. The firm has a market cap of $88.61 billion, a PE ratio of 42.46, a PEG ratio of 3.80 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. On average, sell-side analysts expect that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Monday, January 29th. Royal Bank of Canada increased their target price on Palo Alto Networks to $420.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Capital One Financial lowered Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 target price for the company. in a research report on Wednesday, February 21st. Redburn Atlantic upped their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Susquehanna reduced their price target on shares of Palo Alto Networks from $400.00 to $325.00 and set a “positive” rating on the stock in a research report on Monday, February 26th. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

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.