Roman Butler Fullerton & Co. Sells 375 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Roman Butler Fullerton & Co. trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,569 shares of the network technology company’s stock after selling 375 shares during the quarter. Palo Alto Networks accounts for 1.1% of Roman Butler Fullerton & Co.’s portfolio, making the stock its 22nd largest position. Roman Butler Fullerton & Co.’s holdings in Palo Alto Networks were worth $2,822,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. RB Capital Management LLC lifted its position in Palo Alto Networks by 19.9% in the 1st quarter. RB Capital Management LLC now owns 602 shares of the network technology company’s stock valued at $375,000 after acquiring an additional 100 shares in the last quarter. Morgens Waterfall Vintiadis & Co. Inc. acquired a new stake in Palo Alto Networks in the 1st quarter valued at $6,910,000. United Bank increased its stake in Palo Alto Networks by 11.7% in the 1st quarter. United Bank now owns 2,822 shares of the network technology company’s stock valued at $1,757,000 after buying an additional 296 shares during the last quarter. Yousif Capital Management LLC increased its stake in Palo Alto Networks by 13.6% in the 1st quarter. Yousif Capital Management LLC now owns 1,547 shares of the network technology company’s stock valued at $963,000 after buying an additional 185 shares during the last quarter. Finally, Prudential PLC acquired a new stake in Palo Alto Networks in the 1st quarter valued at $1,022,000. 79.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Capital One Financial lowered shares of Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 price target on the stock. in a research note on Wednesday, February 21st. Piper Sandler lowered shares of Palo Alto Networks from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $350.00 to $300.00 in a research note on Wednesday, February 21st. Scotiabank lowered their price objective on shares of Palo Alto Networks from $363.00 to $337.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, February 21st. Stifel Nicolaus restated a “buy” rating and set a $330.00 price objective on shares of Palo Alto Networks in a research note on Wednesday, March 13th. Finally, Mizuho lowered their price objective on shares of Palo Alto Networks from $405.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. According to MarketBeat.com, Palo Alto Networks has an average rating of “Moderate Buy” and a consensus target price of $314.82.

Palo Alto Networks Stock Performance

Shares of Palo Alto Networks stock traded up $1.74 during trading hours on Thursday, reaching $279.07. The company’s stock had a trading volume of 462,248 shares, compared to its average volume of 5,548,797. Palo Alto Networks, Inc. has a one year low of $176.30 and a one year high of $380.84. The company has a market capitalization of $90.17 billion, a P/E ratio of 43.33, a P/E/G ratio of 3.75 and a beta of 1.19. The stock’s fifty day simple moving average is $299.16 and its two-hundred day simple moving average is $290.18.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Tuesday, February 20th. The network technology company reported $0.80 earnings per share 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 for the quarter, compared to analyst estimates of $1.97 billion. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 2.76 earnings per share for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,867 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $280.13, for a total value of $523,002.71. Following the transaction, the president now directly owns 25,812 shares of the company’s stock, valued at $7,230,715.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the transaction, the executive vice president now owns 198,105 shares in the company, valued at $56,327,194.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President William D. Jenkins, Jr. sold 1,867 shares of Palo Alto Networks stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $280.13, for a total transaction of $523,002.71. Following the completion of the transaction, the president now owns 25,812 shares of the company’s stock, valued at approximately $7,230,715.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 167,917 shares of company stock valued at $49,395,553. Corporate insiders own 3.30% of the company’s stock.

About Palo Alto Networks

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.