Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by PFG Investments LLC

PFG Investments LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,476 shares of the network technology company’s stock after selling 506 shares during the period. PFG Investments LLC’s holdings in Palo Alto Networks were worth $2,555,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Kathmere Capital Management LLC grew its position in shares of Palo Alto Networks by 3.4% during the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after buying an additional 30 shares in the last quarter. FLC Capital Advisors increased its position in Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after buying an additional 30 shares during the period. Cromwell Holdings LLC grew its position in Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after purchasing an additional 30 shares during the last quarter. Cascade Investment Group Inc. raised its stake in Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after acquiring an additional 31 shares in the last quarter. Finally, Herbst Group LLC raised its stake in shares of Palo Alto Networks by 0.3% during the third quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock valued at $3,313,000 after purchasing an additional 31 shares in the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PANW shares. Barclays raised their target price on Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. BMO Capital Markets increased their price target on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company increased their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft raised 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 report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $376.82.

Insider Activity

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 transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The trade was 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 accessible through the SEC website. Also, 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 sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,452 shares of company stock valued at $118,643,279 in the last 90 days. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Up 0.5 %

NASDAQ:PANW traded up $1.86 during trading hours on Friday, hitting $366.44. 1,347,173 shares of the stock were exchanged, compared to its average volume of 3,983,600. The company’s 50 day moving average is $351.91 and its two-hundred day moving average is $326.13. The company has a market capitalization of $119.31 billion, a P/E ratio of 50.54, a price-to-earnings-growth ratio of 5.45 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 earnings per share. On average, equities research analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Palo Alto Networks Company 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.