Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Barden Capital Management Inc.

Barden Capital Management Inc. trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 49.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,498 shares of the network technology company’s stock after selling 3,404 shares during the period. Barden Capital Management Inc.’s holdings in Palo Alto Networks were worth $1,196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its holdings in shares of Palo Alto Networks by 91.0% in the first quarter. Sunbelt Securities Inc. now owns 1,683 shares of the network technology company’s stock valued at $478,000 after buying an additional 802 shares during the period. Alpha Cubed Investments LLC boosted its position in shares of Palo Alto Networks by 16.4% during the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock valued at $79,149,000 after purchasing an additional 32,626 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares during the last quarter. Brookstone Capital Management raised its holdings in shares of Palo Alto Networks by 48.4% in the 1st quarter. Brookstone Capital Management now owns 26,404 shares of the network technology company’s stock worth $7,502,000 after purchasing an additional 8,611 shares in the last quarter. Finally, Wealthspire Advisors LLC lifted its stake in Palo Alto Networks by 1.7% during the first quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after purchasing an additional 75 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the transaction, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,452 shares of company stock valued at $118,643,279 in the last 90 days. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Trading Down 0.4 %

NASDAQ PANW opened at $374.83 on Monday. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $380.84. The company has a fifty day simple moving average of $348.67 and a 200 day simple moving average of $323.39. The company has a market cap of $121.37 billion, a P/E ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (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 net margin of 32.11% and a return on equity of 26.83%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. Equities research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PANW. Needham & Company LLC upped their price target on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Barclays upped their target price on Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI lifted their price target on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. DA Davidson upped their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $375.79.

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.