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

Oxler Private Wealth LLC trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 82.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,320 shares of the network technology company’s stock after selling 6,300 shares during the quarter. Oxler Private Wealth LLC’s holdings in Palo Alto Networks were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PANW. Webster Bank N. A. raised its stake in Palo Alto Networks by 607.1% during the 4th quarter. Webster Bank N. A. now owns 99 shares of the network technology company’s stock worth $29,000 after acquiring an additional 85 shares in the last quarter. Cedar Mountain Advisors LLC grew its holdings 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 period. MV Capital Management Inc. raised its position in Palo Alto Networks by 37.2% in the fourth quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock worth $32,000 after acquiring an additional 29 shares in the last quarter. First United Bank & Trust acquired a new stake in Palo Alto Networks in the fourth quarter valued at $35,000. Finally, Alaska Permanent Fund Corp purchased a new stake in shares of Palo Alto Networks during the 4th quarter worth $42,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

Shares of PANW traded down $3.08 during mid-day trading on Wednesday, reaching $308.58. 4,495,729 shares of the company’s stock traded hands, compared to its average volume of 5,179,810. Palo Alto Networks, Inc. has a 12 month low of $188.83 and a 12 month high of $380.84. The stock has a market capitalization of $99.70 billion, a P/E ratio of 44.81, a price-to-earnings-growth ratio of 4.40 and a beta of 1.18. The business’s 50-day moving average price is $288.74 and its 200-day moving average price is $299.00.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating 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 37.81%. Palo Alto Networks’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.77 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial lifted their price objective on Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Evercore ISI lowered their price objective on shares of Palo Alto Networks from $405.00 to $385.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 14th. Redburn Atlantic lifted their price objective 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. Stifel Nicolaus reiterated a “buy” rating and set a $330.00 target price on shares of Palo Alto Networks in a report on Wednesday, March 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Twelve equities 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 data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $317.45.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 1,050 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the transaction, the chief accounting officer now owns 27,247 shares in the company, valued at $7,629,160. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks 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 transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the sale, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at approximately $7,629,160. The disclosure for this sale can be found here. In the last three months, insiders sold 280,193 shares of company stock valued at $80,670,132. 3.30% of the stock is owned by insiders.

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.