Geneva Partners LLC Sells 48 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Geneva Partners LLC reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,683 shares of the network technology company’s stock after selling 48 shares during the quarter. Palo Alto Networks comprises approximately 2.1% of Geneva Partners LLC’s investment portfolio, making the stock its 22nd biggest holding. Geneva Partners LLC’s holdings in Palo Alto Networks were worth $3,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PANW. Covestor Ltd boosted its holdings in Palo Alto Networks by 61.8% in the first quarter. Covestor Ltd now owns 55 shares of the network technology company’s stock valued at $35,000 after purchasing an additional 21 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Palo Alto Networks by 0.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the network technology company’s stock valued at $1,843,000 after acquiring an additional 23 shares in the last quarter. Brighton Jones LLC grew its stake in Palo Alto Networks by 6.5% during the 1st quarter. Brighton Jones LLC now owns 425 shares of the network technology company’s stock valued at $265,000 after acquiring an additional 26 shares in the last quarter. Penserra Capital Management LLC grew its stake in Palo Alto Networks by 6.4% during the 1st quarter. Penserra Capital Management LLC now owns 452 shares of the network technology company’s stock valued at $281,000 after acquiring an additional 27 shares in the last quarter. Finally, MV Capital Management Inc. grew its stake in Palo Alto Networks by 37.2% during the 4th quarter. MV Capital Management Inc. now owns 107 shares of the network technology company’s stock valued at $32,000 after acquiring an additional 29 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 news, CAO Josh D. Paul sold 1,050 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now owns 27,247 shares in the company, valued at approximately $7,629,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 45,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $343.03, for a total value of $15,436,350.00. Following the completion of the sale, the executive vice president now directly owns 198,105 shares of the company’s stock, valued at approximately $67,955,958.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares of the company’s stock, valued at $7,629,160. The disclosure for this sale can be found here. Insiders have sold 167,917 shares of company stock valued at $49,395,553 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Performance

Shares of PANW stock traded down $3.43 during trading on Friday, hitting $277.71. 4,748,725 shares of the company were exchanged, compared to its average volume of 5,585,325. The firm has a market capitalization of $89.73 billion, a price-to-earnings ratio of 43.39, a P/E/G ratio of 3.78 and a beta of 1.19. The business’s 50-day simple moving average is $295.46 and its 200 day simple moving average is $290.40. Palo Alto Networks, Inc. has a twelve month low of $176.30 and a twelve month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Tuesday, February 20th. The network technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a net margin of 30.24% and a return on equity of 36.58%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.97 billion. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on PANW shares. Barclays dropped their price target on shares of Palo Alto Networks from $400.00 to $345.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. Loop Capital lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price objective on the stock. in a report on Wednesday, February 21st. Evercore ISI raised their price objective on shares of Palo Alto Networks from $315.00 to $405.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Capital One Financial lowered shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price objective on the stock. in a report on Wednesday, February 21st. Finally, Oppenheimer raised their price objective on shares of Palo Alto Networks from $305.00 to $330.00 and gave the company an “outperform” rating in a report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $314.82.

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.