F M Investments LLC Cuts Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

F M Investments LLC cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.9% in the 4th quarter, HoldingsChannel reports. The fund owned 5,655 shares of the network technology company’s stock after selling 1,780 shares during the quarter. F M Investments LLC’s holdings in Palo Alto Networks were worth $1,668,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ritholtz Wealth Management raised its position in Palo Alto Networks by 50.6% during the 3rd quarter. Ritholtz Wealth Management now owns 2,628 shares of the network technology company’s stock valued at $616,000 after purchasing an additional 883 shares during the last quarter. Global Retirement Partners LLC raised its position in Palo Alto Networks by 16.1% during the 3rd quarter. Global Retirement Partners LLC now owns 2,294 shares of the network technology company’s stock valued at $542,000 after purchasing an additional 318 shares during the last quarter. Capital Investment Advisors LLC raised its position in Palo Alto Networks by 13.7% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,635 shares of the network technology company’s stock valued at $383,000 after purchasing an additional 197 shares during the last quarter. Impact Partnership Wealth LLC raised its position in Palo Alto Networks by 18,500.0% during the 3rd quarter. Impact Partnership Wealth LLC now owns 186 shares of the network technology company’s stock valued at $44,000 after purchasing an additional 185 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in Palo Alto Networks during the 3rd quarter valued at approximately $243,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. KeyCorp lowered their price target on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Truist Financial increased their target price on Palo Alto Networks from $330.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Rosenblatt Securities lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $290.00 to $265.00 in a research report on Wednesday, February 21st. Citigroup increased their target price on Palo Alto Networks from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Mizuho decreased their target price on Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.82.

Insider Activity at Palo Alto Networks

In related news, EVP Lee Klarich sold 45,000 shares of Palo Alto Networks stock in a transaction on Monday, January 29th. The shares were sold at an average price of $343.03, for a total transaction of $15,436,350.00. Following the transaction, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 45,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $343.03, for a total value of $15,436,350.00. Following the sale, the executive vice president now owns 198,105 shares in the company, valued at approximately $67,955,958.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the sale, the president now 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 have sold 167,917 shares of company stock worth $49,395,553. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW traded up $11.81 during midday trading on Tuesday, reaching $293.49. The stock had a trading volume of 4,060,803 shares, compared to its average volume of 5,531,698. The company has a market capitalization of $94.83 billion, a price-to-earnings ratio of 45.86, a price-to-earnings-growth ratio of 3.79 and a beta of 1.19. Palo Alto Networks, Inc. has a 12-month low of $176.30 and a 12-month high of $380.84. The stock has a 50-day moving average of $292.16 and a 200-day moving average of $291.84.

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

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.