Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,582 shares of the network technology company’s stock after selling 726 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Palo Alto Networks were worth $12,383,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks in the 4th quarter worth about $27,000. Webster Bank N. A. raised its position in shares of Palo Alto Networks by 607.1% in the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after buying an additional 85 shares during the period. Financial Synergies Wealth Advisors Inc. grew its position in Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the period. Cedar Mountain Advisors LLC increased its stake in Palo Alto Networks by 87.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. Finally, Ulland Investment Advisors LLC purchased a new position in shares of Palo Alto Networks in the 1st quarter worth about $30,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Trading Up 0.1 %

Shares of NASDAQ:PANW traded up $0.22 during mid-day trading on Tuesday, hitting $337.86. 798,365 shares of the company traded hands, compared to its average volume of 4,709,047. The stock has a 50-day moving average price of $313.08 and a two-hundred day moving average price of $308.65. Palo Alto Networks, Inc. has a 12-month low of $201.17 and a 12-month high of $380.84. The stock has a market cap of $109.40 billion, a P/E ratio of 48.41, a P/E/G ratio of 5.24 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.25 by $0.07. 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 31.42% and a return on equity of 32.74%. The company’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the sale, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the sale, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. Insiders sold 302,525 shares of company stock worth $93,982,207 in the last quarter. 3.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PANW has been the subject of several research reports. Susquehanna boosted their price objective on shares of Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research note on Tuesday, May 21st. BMO Capital Markets raised their price objective on Palo Alto Networks from $327.00 to $334.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Redburn Atlantic upped their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Evercore ISI dropped their target price on Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a report on Tuesday, May 14th. Finally, Wedbush reiterated an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a research note on Tuesday, May 21st. Twelve investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $326.29.

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.