1900 Wealth Management LLC Sells 261 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

1900 Wealth Management LLC lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 13.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,674 shares of the network technology company’s stock after selling 261 shares during the period. 1900 Wealth Management LLC’s holdings in Palo Alto Networks were worth $494,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in shares of Palo Alto Networks by 29,086.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock valued at $606,854,000 after purchasing an additional 2,050,917 shares during the period. Jennison Associates LLC lifted its stake in shares of Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after purchasing an additional 1,187,915 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Palo Alto Networks by 6,453.6% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 437,910 shares of the network technology company’s stock valued at $102,670,000 after purchasing an additional 431,228 shares during the period. Railway Pension Investments Ltd lifted its stake in shares of Palo Alto Networks by 463.5% in the 3rd quarter. Railway Pension Investments Ltd now owns 493,053 shares of the network technology company’s stock valued at $115,591,000 after purchasing an additional 405,553 shares during the period. Finally, Mirova US LLC acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at about $106,638,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 4.2 %

Shares of PANW stock traded up $11.78 during mid-day trading on Tuesday, hitting $293.46. 1,583,836 shares of the stock were exchanged, compared to its average volume of 5,496,867. The firm has a fifty day moving average of $293.65 and a 200 day moving average of $291.51. Palo Alto Networks, Inc. has a 52-week low of $176.30 and a 52-week high of $380.84. The company has a market cap of $94.82 billion, a PE ratio of 45.47, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. Equities analysts predict that Palo Alto Networks, Inc. will post 2.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Redburn Atlantic upped their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price target on shares of Palo Alto Networks in a research note on Wednesday, April 17th. Capital One Financial downgraded Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target on the stock. in a research note on Wednesday, February 21st. Royal Bank of Canada upped their price target on Palo Alto Networks to $420.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, The Goldman Sachs Group increased their price objective on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Insider Buying and Selling

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the completion of the transaction, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $284.33, for a total transaction of $17,059,800.00. Following the transaction, the executive vice president now owns 198,105 shares of the company’s stock, valued at $56,327,194.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President William D. Jenkins, Jr. sold 1,867 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total transaction of $523,002.71. Following the transaction, the president now directly owns 25,812 shares in the company, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,917 shares of company stock valued at $49,395,553. Company insiders own 3.30% of the company’s stock.

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.