Tradewinds LLC. Has $776,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Tradewinds LLC. decreased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,548 shares of the network technology company’s stock after selling 132 shares during the period. Tradewinds LLC.’s holdings in Palo Alto Networks were worth $776,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PANW. Transce3nd LLC purchased a new position in shares of Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL boosted its position in Palo Alto Networks by 64.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Anchor Investment Management LLC boosted its position in Palo Alto Networks by 100.0% in the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 78 shares during the last quarter. Kiely Wealth Advisory Group Inc. boosted its position in Palo Alto Networks by 100.0% in the fourth quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock worth $29,000 after purchasing an additional 75 shares during the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in Palo Alto Networks in the fourth quarter worth $29,000. 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 research analyst reports. Northland Securities cut their price objective on Palo Alto Networks from $210.00 to $177.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 21st. Barclays cut their price objective on Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. Wells Fargo & Company boosted their price objective on Palo Alto Networks from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. Sanford C. Bernstein set a $225.00 price objective on Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Finally, Guggenheim reissued a “sell” rating and issued a $130.00 price objective on shares of Palo Alto Networks 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $208.00.

Palo Alto Networks Stock Up 2.3%

Shares of NASDAQ PANW opened at $201.50 on Friday. The firm has a market capitalization of $134.36 billion, a P/E ratio of 115.14, a P/E/G ratio of 5.63 and a beta of 0.97. The stock’s 50-day simple moving average is $193.80 and its two-hundred day simple moving average is $185.42. Palo Alto Networks, Inc. has a twelve month low of $142.01 and a twelve month high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Nir Zuk sold 100,000 shares of the firm’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 transaction, the executive vice president directly owned 3,343,516 shares of the company’s stock, valued at approximately $646,502,253.76. This trade represents a 2.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Dipak Golechha sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $201.85, for a total value of $1,009,250.00. Following the transaction, the executive vice president directly owned 101,135 shares in the company, valued at approximately $20,414,099.75. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 668,722 shares of company stock valued at $121,714,798 over the last 90 days. 2.50% of the stock is owned by insiders.

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.