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

MAI Capital Management trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,670 shares of the network technology company’s stock after selling 4,282 shares during the period. MAI Capital Management’s holdings in Palo Alto Networks were worth $27,231,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PANW. Kathmere Capital Management LLC increased its holdings in Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after buying an additional 30 shares during the last quarter. FLC Capital Advisors boosted its position in shares of Palo Alto Networks by 0.7% during the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after acquiring an additional 30 shares in the last quarter. Cromwell Holdings LLC increased its holdings in shares of Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after acquiring an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Palo Alto Networks by 9.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock worth $119,000 after acquiring an additional 30 shares in the last quarter. Finally, Geneva Partners LLC lifted its stake in Palo Alto Networks by 0.3% during the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock worth $3,741,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 1.9 %

Shares of Palo Alto Networks stock opened at $387.00 on Monday. The company has a 50-day moving average of $359.86 and a two-hundred day moving average of $336.73. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $408.53. The stock has a market cap of $126.01 billion, a PE ratio of 53.38, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data 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 firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.80 EPS. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In related news, 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 value of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 11.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the transaction, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. This trade represents a 24.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,252 shares of company stock valued at $89,041,637. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PANW. DA Davidson increased their price target 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. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a research report on Monday, November 4th. Bank of America boosted their price target 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. JPMorgan Chase & Co. upped their price objective on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, Citigroup lifted their target price on Palo Alto Networks from $385.00 to $395.00 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 assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $384.76.

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.