Howe & Rusling Inc. Sells 2,544 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Howe & Rusling Inc. cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 41.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,641 shares of the network technology company's stock after selling 2,544 shares during the period. Howe & Rusling Inc.'s holdings in Palo Alto Networks were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PANW. Lake Street Advisors Group LLC boosted its holdings in shares of Palo Alto Networks by 64.4% during the 1st quarter. Lake Street Advisors Group LLC now owns 2,530 shares of the network technology company's stock worth $719,000 after purchasing an additional 991 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Palo Alto Networks during the first quarter worth approximately $536,000. InterOcean Capital Group LLC increased its holdings in Palo Alto Networks by 7.1% in the first quarter. InterOcean Capital Group LLC now owns 1,425 shares of the network technology company's stock valued at $405,000 after buying an additional 94 shares in the last quarter. Natixis increased its position in Palo Alto Networks by 82.3% during the 1st quarter. Natixis now owns 31,747 shares of the network technology company's stock worth $9,020,000 after purchasing an additional 14,328 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Palo Alto Networks by 126.6% in the 1st quarter. CreativeOne Wealth LLC now owns 9,489 shares of the network technology company's stock valued at $2,697,000 after buying an additional 5,302 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares in the company, valued at $10,983,359.33. The trade was a 24.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. This represents a 27.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,252 shares of company stock worth $89,041,637. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Up 1.2 %

Shares of Palo Alto Networks stock traded up $4.83 during trading hours on Wednesday, hitting $392.89. The company's stock had a trading volume of 5,114,563 shares, compared to its average volume of 3,841,884. The business has a fifty day moving average of $361.53 and a 200 day moving average of $338.02. The company has a market capitalization of $127.92 billion, a PE ratio of 53.53, a P/E/G ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a 1-year low of $258.17 and a 1-year high of $408.53.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last announced its quarterly earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.08. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

PANW has been the topic of a number of recent analyst reports. Cantor Fitzgerald upgraded shares of Palo Alto Networks to a "strong-buy" rating in a research note on Friday, November 1st. Truist Financial upped their price objective on Palo Alto Networks from $400.00 to $425.00 and gave the company a "buy" rating in a research note on Monday. Piper Sandler upped their price objective on Palo Alto Networks from $300.00 to $330.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Jefferies Financial Group boosted their price target on Palo Alto Networks from $400.00 to $450.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an "overweight" rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Palo Alto Networks has a consensus rating of "Moderate Buy" and a consensus target price of $391.92.

Palo Alto Networks 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.