Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,115 shares of the network technology company’s stock after selling 114 shares during the period. Catalytic Wealth RIA LLC’s holdings in Palo Alto Networks were worth $601,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks during the fourth quarter worth $27,000. Webster Bank N. A. raised its stake in shares of Palo Alto Networks by 607.1% in the fourth quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 85 shares in the last quarter. Financial Synergies Wealth Advisors Inc. raised its stake in shares of Palo Alto Networks by 3,200.0% in 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 in the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of Palo Alto Networks by 87.0% in the fourth quarter. Cedar Mountain Advisors LLC now owns 101 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 47 shares in the last quarter. Finally, Ulland Investment Advisors LLC acquired a new stake in shares of Palo Alto Networks in the first quarter valued at $30,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 0.8 %

Shares of NASDAQ PANW traded up $2.81 during trading on Monday, hitting $333.70. 2,982,714 shares of the company traded hands, compared to its average volume of 4,568,074. Palo Alto Networks, Inc. has a 1 year low of $201.17 and a 1 year high of $380.84. The company has a 50-day moving average price of $319.78 and a 200-day moving average price of $311.13. The firm has a market capitalization of $108.05 billion, a P/E ratio of 48.30, a P/E/G ratio of 5.07 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the company earned $0.38 EPS. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. Research analysts predict that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PANW shares. Redburn Atlantic cut Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $350.00 to $325.00 in a research note on Thursday. Robert W. Baird raised their price target on Palo Alto Networks from $340.00 to $360.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Macquarie raised their price target on Palo Alto Networks from $270.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. KeyCorp cut their price target on Palo Alto Networks from $384.00 to $380.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Finally, Daiwa Capital Markets initiated coverage on Palo Alto Networks in a research note on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $325.59.

Insider Buying and Selling

In related news, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the sale, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,621 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $306.92, for a total value of $497,517.32. Following the completion of the transaction, the president now directly owns 20,501 shares of the company’s stock, valued at approximately $6,292,166.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now directly owns 3,767 shares of the company’s stock, valued at $1,167,770. The disclosure for this sale can be found here. In the last three months, insiders sold 428,391 shares of company stock valued at $136,147,317. Company insiders own 3.30% of the company’s stock.

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.