Fort Sheridan Advisors LLC Sells 51 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Fort Sheridan Advisors LLC decreased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,434 shares of the network technology company’s stock after selling 51 shares during the quarter. Fort Sheridan Advisors LLC’s holdings in Palo Alto Networks were worth $2,487,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 26,511,732 shares of the network technology company’s stock valued at $6,215,410,000 after purchasing an additional 304,272 shares in the last quarter. Norges Bank bought a new stake in shares of Palo Alto Networks in the 4th quarter valued at about $1,563,020,000. Northern Trust Corp raised its holdings in shares of Palo Alto Networks by 2.6% in the 3rd quarter. Northern Trust Corp now owns 3,430,299 shares of the network technology company’s stock valued at $804,199,000 after purchasing an additional 86,995 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Palo Alto Networks by 1.0% in the 4th quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock valued at $924,905,000 after purchasing an additional 30,013 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Palo Alto Networks by 83.1% in the 4th quarter. Jennison Associates LLC now owns 2,616,803 shares of the network technology company’s stock valued at $771,643,000 after purchasing an additional 1,187,915 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of PANW traded down $0.13 during mid-day trading on Thursday, hitting $319.66. 2,878,407 shares of the company’s stock were exchanged, compared to its average volume of 4,961,523. The company has a market cap of $103.51 billion, a price-to-earnings ratio of 46.07, a P/E/G ratio of 4.76 and a beta of 1.10. Palo Alto Networks, Inc. has a fifty-two week low of $201.17 and a fifty-two week high of $380.84. The stock’s 50-day moving average is $295.92 and its 200-day moving average is $304.53.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.07. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. As a group, equities research analysts anticipate that Palo Alto Networks, Inc. will post 2.94 EPS for the current year.

Insider Transactions at Palo Alto Networks

In related news, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the sale, the director now owns 3,767 shares of the company’s stock, valued at $1,167,770. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the sale, the director now owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Aparna Bawa sold 322 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the sale, the director now directly owns 3,767 shares in the company, valued at approximately $1,167,770. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,182 shares of company stock valued at $74,850,597. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PANW has been the subject of several recent research reports. KeyCorp boosted their price target on shares of Palo Alto Networks from $355.00 to $384.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $330.00 price objective on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Royal Bank of Canada cut their price objective on shares of Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a research report on Wednesday, April 17th. Finally, Piper Sandler downgraded shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $350.00 to $300.00 in a research report on Wednesday, February 21st. Twelve investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $322.78.

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.