FWG Holdings LLC Has $709,000 Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

FWG Holdings LLC cut its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,957 shares of the network technology company’s stock after selling 36 shares during the period. FWG Holdings LLC’s holdings in Palo Alto Networks were worth $709,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Kathmere Capital Management LLC raised its holdings in Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares during the period. FLC Capital Advisors raised its holdings in Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after purchasing an additional 30 shares during the period. Cromwell Holdings LLC raised its holdings in Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after purchasing an additional 30 shares during the period. Rosenberg Matthew Hamilton raised its holdings in shares of Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after acquiring an additional 30 shares during the period. Finally, Geneva Partners LLC raised its holdings in shares of Palo Alto Networks by 0.3% during the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after acquiring an additional 30 shares during the period. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 0.0 %

Shares of NASDAQ:PANW opened at $386.83 on Tuesday. The company’s 50 day moving average price is $360.72 and its two-hundred day moving average price is $337.38. Palo Alto Networks, Inc. has a 12-month low of $249.56 and a 12-month high of $408.53. The firm has a market cap of $125.95 billion, a PE ratio of 53.36, a PEG ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This represents a 27.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 11.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,252 shares of company stock valued at $89,041,637. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

PANW has been the topic of a number of research analyst reports. Bank of America raised their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. BTIG Research raised their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Stifel Nicolaus raised their price objective on shares of Palo Alto Networks from $385.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their price objective on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Piper Sandler boosted their price target on shares of Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $390.39.

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.