Tyche Wealth Partners LLC Sells 3,816 Shares of Palo Alto Networks, Inc. $PANW

Tyche Wealth Partners LLC cut its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 37.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,257 shares of the network technology company’s stock after selling 3,816 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Palo Alto Networks were worth $1,274,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PANW. Darwin Wealth Management LLC bought a new stake in shares of Palo Alto Networks in the 2nd quarter worth approximately $25,000. Whipplewood Advisors LLC raised its position in Palo Alto Networks by 6,400.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after purchasing an additional 128 shares during the period. Briaud Financial Planning Inc purchased a new position in Palo Alto Networks in the 2nd quarter worth $28,000. Howard Hughes Medical Institute purchased a new stake in Palo Alto Networks during the second quarter valued at about $29,000. Finally, MTM Investment Management LLC purchased a new stake in Palo Alto Networks during the second quarter valued at about $31,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays boosted their target price on Palo Alto Networks from $215.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Stephens boosted their price objective on Palo Alto Networks from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday, November 20th. UBS Group set a $215.00 price objective on Palo Alto Networks and gave the company a “neutral” rating in a research note on Tuesday, January 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Palo Alto Networks in a research note on Monday, November 24th. Finally, Mizuho set a $220.00 price target on shares of Palo Alto Networks in a research report on Tuesday, December 16th. Thirty-one research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.09.

Palo Alto Networks Trading Up 0.4%

Shares of Palo Alto Networks stock opened at $176.97 on Friday. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $223.61. The company has a market cap of $123.35 billion, a P/E ratio of 112.01, a PEG ratio of 4.20 and a beta of 0.76. The company’s fifty day simple moving average is $187.22 and its two-hundred day simple moving average is $194.58.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Dipak Golechha sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total transaction of $940,900.00. Following the transaction, the executive vice president owned 155,119 shares in the company, valued at approximately $29,190,293.42. This represents a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 800 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total value of $147,848.00. Following the completion of the transaction, the chief accounting officer owned 46,005 shares of the company’s stock, valued at approximately $8,502,184.05. The trade was a 1.71% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 382,016 shares of company stock valued at $76,386,460. Insiders own 1.40% of the company’s stock.

Palo Alto Networks Profile

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.