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

Curi RMB Capital LLC reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,127 shares of the network technology company’s stock after selling 535 shares during the quarter. Palo Alto Networks comprises approximately 0.9% of Curi RMB Capital LLC’s holdings, making the stock its 24th largest position. Curi RMB Capital LLC’s holdings in Palo Alto Networks were worth $40,718,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zions Bancorporation N.A. lifted its position in shares of Palo Alto Networks by 9.3% during the 3rd quarter. Zions Bancorporation N.A. now owns 16,316 shares of the network technology company’s stock valued at $5,577,000 after acquiring an additional 1,387 shares during the last quarter. Huntington National Bank increased its stake in shares of Palo Alto Networks by 12.4% in the third quarter. Huntington National Bank now owns 223,310 shares of the network technology company’s stock worth $76,327,000 after acquiring an additional 24,559 shares during the last quarter. ROI Financial Advisors LLC increased its holdings in Palo Alto Networks by 0.7% in the third quarter. ROI Financial Advisors LLC now owns 13,597 shares of the network technology company’s stock worth $4,647,000 after buying an additional 89 shares during the last quarter. Plato Investment Management Ltd raised its holdings in Palo Alto Networks by 1.4% during the third quarter. Plato Investment Management Ltd now owns 4,813 shares of the network technology company’s stock valued at $1,643,000 after buying an additional 65 shares in the last quarter. Finally, Schrum Private Wealth Management LLC boosted its holdings in Palo Alto Networks by 12.1% during the third quarter. Schrum Private Wealth Management LLC now owns 4,798 shares of the network technology company’s stock valued at $1,640,000 after acquiring an additional 516 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on PANW shares. OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. The Goldman Sachs Group increased their price target on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Truist Financial upped their price target on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. BTIG Research increased their price target on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Stifel Nicolaus raised their price target on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $378.87.

Palo Alto Networks Trading Up 1.1 %

Shares of PANW opened at $402.36 on Thursday. The firm’s 50 day moving average is $357.82 and its 200-day moving average is $335.01. The stock has a market capitalization of $131.01 billion, a PE ratio of 55.50, a P/E/G ratio of 5.77 and a beta of 1.12. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Lee Klarich sold 60,000 shares of the business’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 value of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 over the last three months. Company insiders own 2.50% of the company’s stock.

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.