Forte Capital LLC ADV Sells 355 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Forte Capital LLC ADV cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,739 shares of the network technology company’s stock after selling 355 shares during the quarter. Forte Capital LLC ADV’s holdings in Palo Alto Networks were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PANW. Transce3nd LLC purchased a new position in Palo Alto Networks during the fourth quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL lifted its holdings in Palo Alto Networks by 64.0% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 141 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Anchor Investment Management LLC lifted its holdings in 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 valued at $28,000 after purchasing an additional 78 shares in the last quarter. Kiely Wealth Advisory Group Inc. lifted its holdings in Palo Alto Networks by 100.0% during the fourth 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 in the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in Palo Alto Networks during the fourth quarter valued at approximately $29,000. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In other news, EVP Nir Zuk sold 100,000 shares of Palo Alto Networks stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $198.66, for a total transaction of $19,866,000.00. Following the transaction, the executive vice president owned 3,243,516 shares in the company, valued at $644,356,888.56. The trade was a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction on Monday, July 7th. The stock was sold at an average price of $200.86, for a total value of $24,258,665.64. Following the transaction, the executive vice president owned 235,482 shares in the company, valued at approximately $47,298,914.52. This represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 569,248 shares of company stock worth $111,279,829 over the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ PANW opened at $196.28 on Friday. The stock has a market capitalization of $130.88 billion, a price-to-earnings ratio of 112.16, a PEG ratio of 5.38 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 firm’s 50 day simple moving average is $195.41 and its 200-day simple moving average is $185.94.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Tuesday, May 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Palo Alto Networks had a net margin of 13.95% and a return on equity of 19.48%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PANW shares. Barclays lowered their target price on shares of Palo Alto Networks from $213.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, May 21st. Jefferies Financial Group boosted their target price on shares of Palo Alto Networks from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Roth Capital started coverage on shares of Palo Alto Networks in a report on Thursday, May 15th. They issued a “neutral” rating and a $210.00 target price on the stock. Hsbc Global Res raised shares of Palo Alto Networks from a “moderate sell” rating to a “hold” rating in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Palo Alto Networks from $225.00 to $221.00 and set an “overweight” rating on the stock in a report on Wednesday, May 21st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $208.00.

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.