Intellectus Partners LLC Sells 100 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Intellectus Partners LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.1% in the 4th quarter, HoldingsChannel reports. The firm owned 800 shares of the network technology company’s stock after selling 100 shares during the quarter. Intellectus Partners LLC’s holdings in Palo Alto Networks were worth $236,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. GSG Advisors LLC boosted its position in shares of Palo Alto Networks by 1.0% during the 4th quarter. GSG Advisors LLC now owns 5,160 shares of the network technology company’s stock worth $1,478,000 after acquiring an additional 51 shares in the last quarter. Spirit of America Management Corp NY increased its stake in shares of Palo Alto Networks by 50.0% in the 4th quarter. Spirit of America Management Corp NY now owns 300 shares of the network technology company’s stock valued at $88,000 after purchasing an additional 100 shares during the last quarter. Oliver Lagore Vanvalin Investment Group raised its holdings in shares of Palo Alto Networks by 46.4% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock worth $1,232,000 after buying an additional 1,325 shares in the last quarter. Truist Financial Corp lifted its position in shares of Palo Alto Networks by 148.9% during the 3rd quarter. Truist Financial Corp now owns 189,801 shares of the network technology company’s stock worth $44,497,000 after buying an additional 113,534 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in shares of Palo Alto Networks by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 137,104 shares of the network technology company’s stock worth $32,143,000 after buying an additional 735 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a research note on Wednesday, April 17th. Barclays cut their price objective on Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Wedbush upped their target price on Palo Alto Networks from $350.00 to $425.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a research report on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $314.82.

Palo Alto Networks Stock Performance

Shares of PANW opened at $293.41 on Tuesday. Palo Alto Networks, Inc. has a fifty-two week low of $176.30 and a fifty-two week high of $380.84. The firm’s 50-day simple moving average is $286.15 and its two-hundred day simple moving average is $292.81. The stock has a market cap of $94.80 billion, a PE ratio of 45.85, a price-to-earnings-growth ratio of 3.96 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Equities research analysts predict that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 174,075 shares in the company, valued at approximately $46,659,063. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 174,075 shares in the company, valued at approximately $46,659,063. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the completion of the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. Insiders sold 122,917 shares of company stock worth $33,959,203 over the last quarter. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks 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.