Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,088 shares of the network technology company’s stock after selling 101 shares during the quarter. Jackson Square Capital LLC’s holdings in Palo Alto Networks were worth $372,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PANW. International Assets Investment Management LLC increased its position in Palo Alto Networks by 34,318.2% in the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after acquiring an additional 3,249,594 shares during the period. Vanguard Group Inc. increased its position in Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after acquiring an additional 1,002,239 shares during the period. Swedbank AB acquired a new stake in Palo Alto Networks in the 1st quarter valued at approximately $177,933,000. Altshuler Shaham Ltd increased its position in Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after acquiring an additional 444,100 shares during the period. Finally, Congress Asset Management Co. bought a new position in Palo Alto Networks during the 3rd quarter valued at $94,875,000. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, September 4th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, September 4th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,252 shares of company stock worth $89,383,077. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PANW shares. Morgan Stanley increased their price target on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. The Goldman Sachs Group increased their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Sanford C. Bernstein increased their price target on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Robert W. Baird increased their price target on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, Oppenheimer raised their price objective on Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Eleven research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.49.

Palo Alto Networks Price Performance

NASDAQ PANW opened at $385.18 on Thursday. Palo Alto Networks, Inc. has a fifty-two week low of $234.15 and a fifty-two week high of $386.20. The stock’s 50-day moving average is $353.98 and its two-hundred day moving average is $331.32. The firm has a market cap of $125.41 billion, a P/E ratio of 53.13, a price-to-earnings-growth ratio of 5.23 and a beta of 1.12.

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