Sowell Financial Services LLC Reduces Position in Palo Alto Networks, Inc. $PANW

Sowell Financial Services LLC trimmed its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 39.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,537 shares of the network technology company’s stock after selling 8,121 shares during the quarter. Sowell Financial Services LLC’s holdings in Palo Alto Networks were worth $2,553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PANW. Darwin Wealth Management LLC purchased a new position in shares of Palo Alto Networks during the second quarter valued at approximately $25,000. Whipplewood Advisors LLC boosted its holdings in Palo Alto Networks by 6,400.0% in the second quarter. Whipplewood Advisors LLC now owns 130 shares of the network technology company’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in Palo Alto Networks in the 2nd quarter worth approximately $28,000. Howard Hughes Medical Institute purchased a new stake in Palo Alto Networks during the 2nd quarter valued at $29,000. Finally, MTM Investment Management LLC bought a new position in shares of Palo Alto Networks during the 2nd quarter valued at $31,000. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $188.45 on Monday. The company has a market capitalization of $131.35 billion, a P/E ratio of 119.27, a P/E/G ratio of 4.48 and a beta of 0.79. Palo Alto Networks, Inc. has a 1-year low of $144.15 and a 1-year high of $223.61. The firm’s 50 day simple moving average is $199.94 and its two-hundred day simple moving average is $197.03.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. Palo Alto Networks had a net margin of 11.69% and a return on equity of 17.05%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same period in the prior year, the company posted $1.56 earnings per share. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Lee Klarich sold 120,774 shares of Palo Alto Networks stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $211.92, for a total transaction of $25,594,426.08. Following the sale, the executive vice president owned 149,190 shares of the company’s stock, valued at approximately $31,616,344.80. This trade represents a 44.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Josh D. Paul sold 700 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $189.39, for a total value of $132,573.00. Following the completion of the transaction, the chief accounting officer owned 46,805 shares of the company’s stock, valued at $8,864,398.95. The trade was a 1.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 376,922 shares of company stock worth $77,963,339 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PANW shares. Hsbc Global Res lowered Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Thursday, November 20th. BTIG Research restated a “buy” rating on shares of Palo Alto Networks in a research note on Wednesday, December 17th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $235.00 price target on shares of Palo Alto Networks in a research report on Wednesday, December 17th. Mizuho set a $220.00 target price on shares of Palo Alto Networks in a research report on Tuesday, December 16th. Finally, TD Cowen increased their price target on shares of Palo Alto Networks from $230.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Thirty-one investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $226.20.

About Palo Alto Networks

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.