Osborne Partners Capital Management LLC Sells 930 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Osborne Partners Capital Management LLC lowered its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,190 shares of the network technology company’s stock after selling 930 shares during the quarter. Palo Alto Networks comprises about 1.1% of Osborne Partners Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Osborne Partners Capital Management LLC’s holdings in Palo Alto Networks were worth $18,864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PANW. Alpha Cubed Investments LLC grew its holdings in Palo Alto Networks by 16.4% during the third quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after purchasing an additional 32,626 shares during the last quarter. Jennison Associates LLC grew its stake in Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after buying an additional 198,078 shares during the last quarter. Wealthspire Advisors LLC raised its holdings in Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock worth $1,244,000 after acquiring an additional 75 shares during the period. Handelsbanken Fonder AB raised its holdings in Palo Alto Networks by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock worth $67,232,000 after acquiring an additional 7,291 shares during the period. Finally, Parsons Capital Management Inc. RI lifted its position in Palo Alto Networks by 4.5% during the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock worth $914,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.5 %

Shares of NASDAQ:PANW opened at $366.44 on Friday. The firm has a market cap of $119.31 billion, a P/E ratio of 50.54, a P/E/G ratio of 5.45 and a beta of 1.13. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00. The company’s 50-day moving average price is $351.26 and its two-hundred day moving average price is $325.45.

Palo Alto Networks (NASDAQ:PANW) last released 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 business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s 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 transaction, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. 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 can be accessed through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The trade was 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 worth $118,643,279 over the last 90 days. 3.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of recent analyst reports. Northland Securities lifted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 20th. Wedbush reiterated an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. Bank of America raised their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Finally, BTIG Research raised their price target on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research report 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.82.

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.