Livforsakringsbolaget Skandia Omsesidigt Sells 200 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Livforsakringsbolaget Skandia Omsesidigt cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,982 shares of the network technology company’s stock after selling 200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Palo Alto Networks were worth $672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Beacon Pointe Advisors LLC grew its position in shares of Palo Alto Networks by 31.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 112,040 shares of the network technology company’s stock valued at $33,038,000 after purchasing an additional 26,767 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Palo Alto Networks by 9.9% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,726 shares of the network technology company’s stock valued at $7,291,000 after purchasing an additional 2,225 shares during the period. Sunbelt Securities Inc. grew its position in shares of Palo Alto Networks by 91.0% in the 1st quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after purchasing an additional 802 shares during the period. Oliver Lagore Vanvalin Investment Group grew its position in shares of Palo Alto Networks by 46.4% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 4,178 shares of the network technology company’s stock valued at $1,232,000 after purchasing an additional 1,325 shares during the period. Finally, American National Bank grew its position in shares of Palo Alto Networks by 67.4% in the 4th quarter. American National Bank now owns 231 shares of the network technology company’s stock valued at $68,000 after purchasing an additional 93 shares during the period. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the completion of the transaction, the executive vice president now owns 1,259,567 shares of the company’s stock, valued at $369,443,596.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on 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 owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $293.31, for a total value of $10,559,160.00. Following the completion of the transaction, the executive vice president now directly owns 1,259,567 shares of the company’s stock, valued at approximately $369,443,596.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 367,315 shares of company stock valued at $118,696,590. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Price Performance

PANW stock traded down $3.84 during midday trading on Monday, reaching $327.64. The company had a trading volume of 617,928 shares, compared to its average volume of 4,378,927. The company has a market capitalization of $106.09 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 3.98 and a beta of 1.14. The stock has a 50 day moving average price of $322.23 and a 200-day moving average price of $310.87. Palo Alto Networks, Inc. has a 1-year low of $201.17 and a 1-year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.97 billion. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. Palo Alto Networks’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, research analysts anticipate that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on PANW shares. Sanford C. Bernstein boosted their price objective on Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. JPMorgan Chase & Co. boosted their price objective on Palo Alto Networks from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Barclays upped their price target on Palo Alto Networks from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Susquehanna upped their price target on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a research report on Tuesday, May 21st. Thirteen 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 company’s stock. According to MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average price target of $326.44.

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.