Founders Financial Securities LLC Sells 163 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Founders Financial Securities LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,090 shares of the network technology company’s stock after selling 163 shares during the period. Founders Financial Securities LLC’s holdings in Palo Alto Networks were worth $1,048,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC grew its stake in shares of Palo Alto Networks by 12.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,897 shares of the network technology company’s stock worth $559,000 after acquiring an additional 212 shares during the last quarter. Aveo Capital Partners LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth about $212,000. Wealthcare Advisory Partners LLC raised its position in shares of Palo Alto Networks by 6.6% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,882 shares of the network technology company’s stock valued at $850,000 after buying an additional 178 shares during the last quarter. Private Advisor Group LLC raised its position in shares of Palo Alto Networks by 8.5% during the fourth quarter. Private Advisor Group LLC now owns 25,073 shares of the network technology company’s stock valued at $7,393,000 after buying an additional 1,974 shares during the last quarter. Finally, Gryphon Financial Partners LLC bought a new stake in shares of Palo Alto Networks in the fourth quarter valued at about $336,000. 79.82% of the stock is currently owned by institutional investors.

Palo Alto Networks Trading Down 2.5 %

Shares of NASDAQ PANW opened at $346.15 on Thursday. The company has a fifty day moving average price of $335.82 and a 200 day moving average price of $310.46. The firm has a market cap of $112.08 billion, a PE ratio of 50.31, a PEG ratio of 5.29 and a beta of 1.13. Palo Alto Networks, Inc. has a 1-year low of $224.64 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. Equities research analysts forecast that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the sale, the director now directly owns 31,517 shares in the company, valued at $10,983,359.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the sale, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the sale, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. Insiders sold a total of 339,572 shares of company stock valued at $111,126,265 in the last quarter. 3.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. KeyCorp raised their target price on Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Oppenheimer boosted their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Piper Sandler increased their target price on Palo Alto Networks from $300.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Robert W. Baird raised their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $364.08.

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.