Klingenstein Fields & Co. LP Has $81.37 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Klingenstein Fields & Co. LP lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 238,066 shares of the network technology company’s stock after selling 484 shares during the quarter. Palo Alto Networks makes up approximately 3.2% of Klingenstein Fields & Co. LP’s portfolio, making the stock its 6th biggest position. Klingenstein Fields & Co. LP owned 0.07% of Palo Alto Networks worth $81,371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks in the 1st quarter worth $25,000. Capital Advisors Ltd. LLC grew its stake in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares during the period. Strategic Investment Solutions Inc. IL raised its position in Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. raised its position in Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.4 %

NASDAQ:PANW opened at $361.01 on Monday. The company has a 50 day simple moving average of $352.69 and a two-hundred day simple moving average of $329.75. The company has a market cap of $117.54 billion, a PE ratio of 50.02, a price-to-earnings-growth ratio of 5.22 and a beta of 1.12. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during 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%. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. Research analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PANW shares. BMO Capital Markets boosted their target price on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Bank of America boosted their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. UBS Group raised their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Wedbush reiterated an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research report on Friday, August 16th. Finally, Stifel Nicolaus raised their price objective on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. 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 accessible through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 255,252 shares of company stock valued at $89,383,077. 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.