Telos Capital Management Inc. Sells 531 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Telos Capital Management Inc. reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,724 shares of the network technology company’s stock after selling 531 shares during the quarter. Palo Alto Networks accounts for approximately 1.0% of Telos Capital Management Inc.’s holdings, making the stock its 29th biggest position. Telos Capital Management Inc.’s holdings in Palo Alto Networks were worth $9,818,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. lifted its stake in shares of Palo Alto Networks by 11.1% in the third quarter. Raleigh Capital Management Inc. now owns 351 shares of the network technology company’s stock valued at $120,000 after buying an additional 35 shares during the period. Evernest Financial Advisors LLC acquired a new position in Palo Alto Networks in the 3rd quarter valued at approximately $348,000. Community Financial Services Group LLC lifted its position in shares of Palo Alto Networks by 2.0% in the 3rd quarter. Community Financial Services Group LLC now owns 20,839 shares of the network technology company’s stock worth $7,123,000 after acquiring an additional 405 shares during the period. Plimoth Trust Co. LLC acquired a new stake in shares of Palo Alto Networks during the 3rd quarter worth approximately $1,100,000. Finally, Venture Visionary Partners LLC increased its position in shares of Palo Alto Networks by 6.2% during the third quarter. Venture Visionary Partners LLC now owns 15,669 shares of the network technology company’s stock valued at $5,356,000 after purchasing an additional 918 shares during the period. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Performance

PANW opened at $378.41 on Tuesday. The company has a fifty day moving average price of $349.61 and a two-hundred day moving average price of $324.19. The firm has a market capitalization of $122.53 billion, a PE ratio of 55.00, a P/E/G ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $233.81 and a 52 week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analyst Ratings Changes

PANW has been the subject of several research reports. Scotiabank raised their target price on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Evercore ISI lifted their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Morgan Stanley upped their target price on shares of Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Oppenheimer raised their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Finally, UBS Group upped their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.79.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This 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. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock valued at $118,643,279 in the last ninety days. 3.30% of the stock is owned by insiders.

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.