Proactive Wealth Strategies LLC Has $3.48 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Proactive Wealth Strategies LLC lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.0% in the 1st quarter, HoldingsChannel reports. The fund owned 20,371 shares of the network technology company’s stock after selling 847 shares during the quarter. Palo Alto Networks accounts for about 1.9% of Proactive Wealth Strategies LLC’s holdings, making the stock its 12th biggest holding. Proactive Wealth Strategies LLC’s holdings in Palo Alto Networks were worth $3,476,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PANW. Transce3nd LLC bought a new stake in shares of Palo Alto Networks during the fourth quarter worth $25,000. Strategic Investment Solutions Inc. IL raised its position in shares of Palo Alto Networks by 64.0% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Kiely Wealth Advisory Group Inc. lifted its stake in shares of Palo Alto Networks by 100.0% in the 4th quarter. Kiely Wealth Advisory Group Inc. now owns 150 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 75 shares during the period. Capital Advisors Ltd. LLC boosted its position in shares of Palo Alto Networks by 102.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 79 shares during the last quarter. Finally, Anchor Investment Management LLC grew its stake in shares of Palo Alto Networks by 100.0% during the fourth quarter. Anchor Investment Management LLC now owns 156 shares of the network technology company’s stock worth $28,000 after purchasing an additional 78 shares during the period. 79.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PANW. Stephens cut Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 1st. Sanford C. Bernstein set a $225.00 price objective on shares of Palo Alto Networks and gave the company an “outperform” rating in a report on Wednesday, May 21st. Barclays cut their price objective on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 21st. Hsbc Global Res upgraded Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 10th. Finally, HSBC raised shares of Palo Alto Networks from a “reduce” rating to a “hold” rating and set a $156.00 target price on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $208.00.

Palo Alto Networks Stock Up 2.0%

Shares of NASDAQ:PANW opened at $203.32 on Tuesday. The firm has a market cap of $135.57 billion, a P/E ratio of 116.18, a P/E/G ratio of 5.56 and a beta of 0.97. Palo Alto Networks, Inc. has a 12-month low of $142.01 and a 12-month high of $208.39. The business has a fifty day simple moving average of $188.10 and a 200 day simple moving average of $185.08.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Tuesday, May 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Palo Alto Networks had a return on equity of 19.48% and a net margin of 13.95%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In related news, EVP Nir Zuk sold 100,000 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $165.41, for a total transaction of $16,541,000.00. Following the transaction, the executive vice president now directly owns 3,543,516 shares of the company’s stock, valued at $586,132,981.56. This represents a 2.74% decrease in their ownership of the stock. 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 120,774 shares of Palo Alto Networks stock in a transaction on Monday, April 7th. The shares were sold at an average price of $151.13, for a total transaction of $18,252,574.62. Following the completion of the sale, the executive vice president now directly owns 321,774 shares of the company’s stock, valued at approximately $48,629,704.62. This trade represents a 27.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 790,536 shares of company stock valued at $139,998,368 over the last quarter. Insiders own 2.50% of the company’s stock.

Palo Alto Networks 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.