Sound View Wealth Advisors Group LLC Sells 828 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Sound View Wealth Advisors Group LLC decreased its holdings in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 20.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,132 shares of the network technology company’s stock after selling 828 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Palo Alto Networks were worth $924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Palo Alto Networks by 1.2% during the third quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock worth $6,215,410,000 after buying an additional 304,272 shares during the last quarter. Northern Trust Corp raised its position in Palo Alto Networks by 2.6% in the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock valued at $804,199,000 after buying an additional 86,995 shares during the last quarter. Jennison Associates LLC lifted its stake in 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 acquiring an additional 1,187,915 shares in the last quarter. International Assets Investment Management LLC boosted its position in Palo Alto Networks by 29,086.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,057,968 shares of the network technology company’s stock worth $606,854,000 after acquiring an additional 2,050,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Palo Alto Networks by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,746,971 shares of the network technology company’s stock valued at $515,147,000 after purchasing an additional 84,151 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 121,276 shares of Palo Alto Networks stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $299.60, for a total value of $36,334,289.60. Following the completion of the transaction, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $49,895,983.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the completion of the transaction, the chief accounting officer now owns 27,247 shares of the company’s stock, valued at $7,629,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 121,276 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $299.60, for a total transaction of $36,334,289.60. Following the completion of the sale, the executive vice president now directly owns 166,542 shares in the company, valued at $49,895,983.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,193 shares of company stock worth $80,670,132. 3.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. KeyCorp increased their target price on shares of Palo Alto Networks from $355.00 to $384.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler downgraded Palo Alto Networks from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $350.00 to $300.00 in a report on Wednesday, February 21st. Mizuho lowered their target price on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price target on shares of Palo Alto Networks in a research note on Wednesday, April 17th. Finally, Northland Securities lowered shares of Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 price objective on the stock. in a research note on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $316.85.

Read Our Latest Report on PANW

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $4.46 on Thursday, hitting $316.78. The company had a trading volume of 3,668,370 shares, compared to its average volume of 5,085,433. Palo Alto Networks, Inc. has a 1 year low of $186.75 and a 1 year high of $380.84. The stock has a 50 day moving average of $286.03 and a 200-day moving average of $296.56. The stock has a market capitalization of $102.35 billion, a price-to-earnings ratio of 49.50, a P/E/G ratio of 4.11 and a beta of 1.18.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.58 by $0.22. 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 30.24% and a return on equity of 36.58%. Equities analysts anticipate that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

Palo Alto Networks Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NASDAQ:PANWFree Report).

Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

Receive News & Ratings for Palo Alto Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks and related companies with MarketBeat.com's FREE daily email newsletter.