Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Cut by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 29.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,112 shares of the network technology company's stock after selling 2,139 shares during the quarter. Tealwood Asset Management Inc.'s holdings in Palo Alto Networks were worth $1,747,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Palo Alto Networks by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 27,569,859 shares of the network technology company's stock worth $8,129,800,000 after purchasing an additional 1,058,127 shares during the period. Swedbank AB acquired a new position in shares of Palo Alto Networks during the 1st quarter worth $177,933,000. Altshuler Shaham Ltd grew its stake in shares of Palo Alto Networks by 444,100.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company's stock worth $150,520,000 after purchasing an additional 444,100 shares during the period. Legal & General Group Plc grew its stake in shares of Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company's stock worth $1,099,564,000 after purchasing an additional 255,060 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company's stock worth $799,792,000 after purchasing an additional 198,078 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, the chief accounting officer now owns 24,782 shares of the company's stock, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now owns 1,187,567 shares of the company's stock, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now directly owns 24,782 shares of the company's stock, valued at $8,014,746.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 269,866 shares of company stock valued at $88,620,447 over the last 90 days. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Price Performance

NASDAQ PANW traded up $17.19 during mid-day trading on Tuesday, hitting $355.13. The company's stock had a trading volume of 3,249,981 shares, compared to its average volume of 4,108,000. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $380.84. The stock's fifty day simple moving average is $338.26 and its two-hundred day simple moving average is $317.74. The firm has a market capitalization of $114.99 billion, a P/E ratio of 51.64, a price-to-earnings-growth ratio of 4.82 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm posted $0.80 earnings per share. Palo Alto Networks's revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. BNP Paribas assumed coverage on shares of Palo Alto Networks in a research note on Tuesday. They set an "outperform" rating and a $410.00 price target on the stock. Truist Financial upped their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Tuesday, August 20th. Rosenblatt Securities upped their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a "neutral" rating in a research note on Monday, August 19th. Sanford C. Bernstein increased their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an "outperform" rating in a research note on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $371.50.

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.