Palo Alto Networks, Inc. (NYSE:PANW) Shares Sold by TrimTabs Asset Management LLC

TrimTabs Asset Management LLC trimmed its holdings in Palo Alto Networks, Inc. (NYSE:PANW) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,924 shares of the network technology company’s stock after selling 37 shares during the period. TrimTabs Asset Management LLC’s holdings in Palo Alto Networks were worth $1,893,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PANW. Litman Gregory Asset Management LLC bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at approximately $39,000. Hudock Inc. lifted its holdings in shares of Palo Alto Networks by 100.0% during the fourth quarter. Hudock Inc. now owns 112 shares of the network technology company’s stock valued at $39,000 after purchasing an additional 56 shares during the last quarter. Curi Capital acquired a new position in Palo Alto Networks during the fourth quarter valued at $40,000. Harvest Fund Management Co. Ltd acquired a new position in Palo Alto Networks during the fourth quarter valued at $41,000. Finally, Valley Brook Capital Group acquired a new position in Palo Alto Networks during the fourth quarter valued at $47,000. 80.76% of the stock is currently owned by institutional investors.

NYSE PANW traded up $7.48 during trading hours on Thursday, hitting $346.05. 20,984 shares of the company traded hands, compared to its average volume of 1,190,399. The stock has a market capitalization of $33.65 billion, a price-to-earnings ratio of -109.22 and a beta of 1.50. The business’s 50-day moving average is $344.07 and its 200-day moving average is $315.26. Palo Alto Networks, Inc. has a twelve month low of $172.36 and a twelve month high of $403.00. The company has a debt-to-equity ratio of 4.18, a quick ratio of 1.63 and a current ratio of 1.63.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Sunday, February 21st. The network technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.12. Palo Alto Networks had a negative return on equity of 8.66% and a negative net margin of 8.36%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $985.90 million. During the same quarter last year, the company posted $1.19 earnings per share. Palo Alto Networks’s quarterly revenue was up 24.5% on a year-over-year basis. Analysts predict that Palo Alto Networks, Inc. will post -1.69 EPS for the current year.

In other news, President Amit K. Singh sold 1,378 shares of the stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $379.69, for a total value of $523,212.82. Following the completion of the transaction, the president now owns 127,310 shares of the company’s stock, valued at $48,338,333.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $361.90, for a total value of $4,342,800.00. Following the completion of the transaction, the executive vice president now directly owns 882,856 shares of the company’s stock, valued at approximately $319,505,586.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,917 shares of company stock worth $32,113,001. 2.30% of the stock is owned by company insiders.

Several research analysts recently weighed in on PANW shares. Argus upped their price target on Palo Alto Networks from $410.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, March 2nd. Truist upped their target price on Palo Alto Networks from $385.00 to $425.00 in a research report on Tuesday, February 23rd. BMO Capital Markets raised Palo Alto Networks from a “market perform” rating to an “outperform” rating and set a $455.00 target price on the stock in a research report on Monday, March 1st. Monness Crespi & Hardt upped their target price on Palo Alto Networks from $315.00 to $440.00 in a research report on Friday, February 19th. Finally, DA Davidson upped their target price on Palo Alto Networks from $325.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $377.06.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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

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