Palo Alto Networks, Inc. $PANW Holdings Lowered by Yousif Capital Management LLC

Yousif Capital Management LLC lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,660 shares of the network technology company’s stock after selling 3,538 shares during the quarter. Yousif Capital Management LLC’s holdings in Palo Alto Networks were worth $15,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PANW. Brighton Jones LLC increased its position in shares of Palo Alto Networks by 147.7% in the fourth quarter. Brighton Jones LLC now owns 6,761 shares of the network technology company’s stock worth $1,230,000 after acquiring an additional 4,031 shares in the last quarter. Bison Wealth LLC boosted its stake in Palo Alto Networks by 169.1% in the 4th quarter. Bison Wealth LLC now owns 5,212 shares of the network technology company’s stock worth $948,000 after purchasing an additional 3,275 shares during the period. ICONIQ Capital LLC grew its position in Palo Alto Networks by 39.2% during the 1st quarter. ICONIQ Capital LLC now owns 3,515 shares of the network technology company’s stock worth $600,000 after purchasing an additional 989 shares in the last quarter. Comerica Bank raised its stake in Palo Alto Networks by 5.1% during the 1st quarter. Comerica Bank now owns 225,799 shares of the network technology company’s stock valued at $38,530,000 after purchasing an additional 10,939 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Palo Alto Networks by 93.1% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,719 shares of the network technology company’s stock valued at $293,000 after purchasing an additional 829 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 120,774 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $211.92, for a total transaction of $25,594,426.08. Following the transaction, the executive vice president directly owned 149,190 shares in the company, valued at $31,616,344.80. This trade represents a 44.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $189.39, for a total value of $132,573.00. Following the sale, the chief accounting officer owned 46,805 shares of the company’s stock, valued at approximately $8,864,398.95. This trade represents a 1.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 376,922 shares of company stock worth $77,963,339 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PANW shares. New Street Research upped their price target on Palo Alto Networks from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Palo Alto Networks in a report on Monday, November 24th. Wedbush reissued an “outperform” rating and issued a $225.00 price target on shares of Palo Alto Networks in a research report on Thursday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of Palo Alto Networks in a research report on Thursday, November 20th. Finally, Robert W. Baird increased their target price on shares of Palo Alto Networks from $230.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 14th. Thirty-one equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average target price of $226.20.

Palo Alto Networks Stock Performance

Shares of PANW opened at $189.49 on Tuesday. The firm has a market cap of $132.07 billion, a PE ratio of 119.93, a PEG ratio of 4.43 and a beta of 0.79. The firm’s 50 day moving average price is $201.48 and its 200 day moving average price is $197.29. Palo Alto Networks, Inc. has a twelve month low of $144.15 and a twelve month high of $223.61.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Thursday, November 20th. The network technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the business posted $1.56 EPS. Palo Alto Networks’s quarterly revenue was up 15.7% on a year-over-year basis. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

About Palo Alto Networks

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next?generation firewalls as a core on?premises capability, alongside cloud?delivered security services and software for securing public and private clouds.