Rep. Jefferson Shreve Sells Palo Alto Networks, Inc. (NASDAQ:PANW) Stock

Representative Jefferson Shreve (R-Indiana) recently sold shares of Palo Alto Networks, Inc. (NASDAQ:PANW). In a filing disclosed on May 08th, the Representative disclosed that they had sold between $15,001 and $50,000 in Palo Alto Networks stock on April 7th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $50,001 – $100,000 in shares of Chipotle Mexican Grill (NYSE:CMG) on 4/17/2025.
• Purchased $50,001 – $100,000 in shares of Applied Materials (NASDAQ:AMAT) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Caterpillar (NYSE:CAT) on 4/17/2025.
• Sold $15,001 – $50,000 in shares of Lululemon Athletica (NASDAQ:LULU) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Western Digital (NASDAQ:WDC) on 4/17/2025.
• Sold $15,001 – $50,000 in shares of Zoetis (NYSE:ZTS) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Stryker (NYSE:SYK) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of NextEra Energy (NYSE:NEE) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of CSX (NASDAQ:CSX) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Ross Stores (NASDAQ:ROST) on 4/17/2025.

Palo Alto Networks Trading Up 3.5%

Palo Alto Networks stock traded up $6.57 during trading hours on Monday, reaching $193.50. 4,561,580 shares of the stock were exchanged, compared to its average volume of 5,729,325. The stock has a 50 day moving average of $176.07 and a two-hundred day moving average of $184.78. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39. The company has a market cap of $128.12 billion, a P/E ratio of 109.01, a price-to-earnings-growth ratio of 5.64 and a beta of 1.02.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.24 billion. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. On average, analysts expect that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PANW. Uniting Wealth Partners LLC acquired a new stake in Palo Alto Networks in the 4th quarter valued at about $548,000. Rehmann Capital Advisory Group increased its position in Palo Alto Networks by 106.4% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,378 shares of the network technology company’s stock valued at $433,000 after acquiring an additional 1,226 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Palo Alto Networks by 94.3% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 11,661 shares of the network technology company’s stock valued at $2,122,000 after purchasing an additional 5,658 shares during the period. Knights of Columbus Asset Advisors LLC grew its stake in Palo Alto Networks by 108.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 21,354 shares of the network technology company’s stock worth $3,886,000 after purchasing an additional 11,095 shares during the period. Finally, National Pension Service grew its stake in Palo Alto Networks by 82.1% in the fourth quarter. National Pension Service now owns 1,345,740 shares of the network technology company’s stock valued at $244,871,000 after acquiring an additional 606,778 shares during the period. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other news, EVP Nir Zuk sold 100,000 shares of the firm’s stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares of the company’s stock, valued at approximately $586,132,981.56. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, May 5th. The stock was sold at an average price of $189.27, for a total transaction of $22,858,894.98. Following the completion of the transaction, the executive vice president now directly owns 293,010 shares in the company, valued at approximately $55,458,002.70. The trade was a 29.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 568,962 shares of company stock valued at $96,933,690. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial cut their price target on shares of Palo Alto Networks from $213.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Citigroup increased their price target on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Loop Capital cut their price target on shares of Palo Alto Networks from $385.00 to $180.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $223.00 price target on shares of Palo Alto Networks in a report on Wednesday, February 12th. Finally, Jefferies Financial Group lowered their price objective on Palo Alto Networks from $240.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.06.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email editor@ballotpedia.org to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.