Flagship Harbor Advisors LLC Reduces Holdings in Palo Alto Networks, Inc. $PANW

Flagship Harbor Advisors LLC cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 50.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,040 shares of the network technology company’s stock after selling 5,168 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Palo Alto Networks were worth $928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PANW. Darwin Wealth Management LLC purchased a new stake in Palo Alto Networks in the 2nd quarter worth approximately $25,000. Winch Advisory Services LLC raised its position in shares of Palo Alto Networks by 96.1% in the 3rd quarter. Winch Advisory Services LLC now owns 149 shares of the network technology company’s stock worth $30,000 after acquiring an additional 73 shares in the last quarter. Painted Porch Advisors LLC raised its position in shares of Palo Alto Networks by 72.7% in the 3rd quarter. Painted Porch Advisors LLC now owns 152 shares of the network technology company’s stock worth $31,000 after acquiring an additional 64 shares in the last quarter. Caitlin John LLC bought a new position in shares of Palo Alto Networks in the 3rd quarter worth approximately $31,000. Finally, Palisade Asset Management LLC bought a new position in shares of Palo Alto Networks in the 3rd quarter worth approximately $33,000. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Up 2.3%

Shares of PANW opened at $173.78 on Thursday. The business’s fifty day simple moving average is $161.22 and its two-hundred day simple moving average is $185.23. Palo Alto Networks, Inc. has a 12 month low of $139.57 and a 12 month high of $223.61. The company has a market cap of $141.80 billion, a price-to-earnings ratio of 96.01, a P/E/G ratio of 5.89 and a beta of 0.77.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Wednesday, February 18th. The network technology company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.09. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.58 billion. Palo Alto Networks had a return on equity of 17.60% and a net margin of 12.96%.The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the business posted $0.81 EPS. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, Director James J. Goetz sold 22,684 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $164.41, for a total transaction of $3,729,476.44. Following the sale, the director directly owned 52,500 shares of the company’s stock, valued at $8,631,525. This trade represents a 30.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Josh D. Paul sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $161.40, for a total value of $177,540.00. Following the sale, the chief accounting officer directly owned 83,136 shares in the company, valued at approximately $13,418,150.40. This represents a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,784 shares of company stock valued at $4,709,116 over the last three months. 1.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PANW has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Palo Alto Networks in a research report on Wednesday, February 18th. Susquehanna decreased their target price on Palo Alto Networks from $230.00 to $200.00 and set a “positive” rating for the company in a research report on Wednesday, February 18th. Citigroup reissued a “buy” rating and issued a $210.00 target price (down from $235.00) on shares of Palo Alto Networks in a research report on Thursday, February 19th. Jefferies Financial Group reissued a “buy” rating on shares of Palo Alto Networks in a research report on Wednesday, February 4th. Finally, Robert W. Baird set a $220.00 target price on Palo Alto Networks and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.95.

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.