Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Wealth Architects LLC

Wealth Architects LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 778 shares of the network technology company’s stock after selling 106 shares during the quarter. Wealth Architects LLC’s holdings in Palo Alto Networks were worth $266,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Norden Group LLC boosted its position in Palo Alto Networks by 65.6% during the 1st quarter. Norden Group LLC now owns 1,538 shares of the network technology company’s stock valued at $437,000 after purchasing an additional 609 shares during the period. Manchester Capital Management LLC lifted its position in Palo Alto Networks by 145.6% in the 1st quarter. Manchester Capital Management LLC now owns 501 shares of the network technology company’s stock valued at $142,000 after purchasing an additional 297 shares during the last quarter. Gallacher Capital Management LLC bought a new position in Palo Alto Networks in the 1st quarter worth approximately $206,000. Empirical Finance LLC grew its stake in shares of Palo Alto Networks by 12.2% in the first quarter. Empirical Finance LLC now owns 4,459 shares of the network technology company’s stock worth $1,267,000 after purchasing an additional 485 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Palo Alto Networks by 18.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 37,319 shares of the network technology company’s stock valued at $10,603,000 after purchasing an additional 5,781 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 255,252 shares of company stock worth $89,383,077. 2.50% of the stock is currently owned by company insiders.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $385.18 on Thursday. The stock’s fifty day moving average is $353.98 and its 200-day moving average is $331.32. Palo Alto Networks, Inc. has a 52 week low of $234.15 and a 52 week high of $386.20. The stock has a market capitalization of $125.41 billion, a PE ratio of 53.13, a PEG ratio of 5.23 and a beta of 1.12.

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, topping the consensus estimate of $1.41 by $0.10. The business 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 firm’s revenue was up 12.1% on a year-over-year basis. During the same period last year, the company earned $0.80 EPS. As a group, analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on PANW shares. Sanford C. Bernstein raised their target price on shares of 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 raised their target price 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. The Goldman Sachs Group boosted their price target on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Rosenblatt Securities lifted their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, UBS Group increased their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $378.49.

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.