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

Horan Capital Advisors LLC. reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,389 shares of the network technology company’s stock after selling 40 shares during the quarter. Horan Capital Advisors LLC.’s holdings in Palo Alto Networks were worth $2,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after purchasing an additional 3,249,594 shares in the last quarter. Legal & General Group Plc grew its stake in Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after buying an additional 255,060 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Palo Alto Networks by 5.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after buying an additional 114,742 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Palo Alto Networks by 8.0% in the 2nd quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock valued at $339,183,000 after acquiring an additional 73,922 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Palo Alto Networks by 0.5% in the third quarter. Swiss National Bank now owns 961,000 shares of the network technology company’s stock valued at $328,470,000 after buying an additional 4,400 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $386.83 on Tuesday. The firm’s 50 day moving average price is $360.72 and its two-hundred day moving average price is $337.38. The stock has a market cap of $125.95 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a twelve month low of $249.56 and a twelve month high of $408.53.

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 for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. On average, research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Palo Alto Networks from $387.00 to $449.00 and gave the stock an “overweight” rating in a research note on Monday. KeyCorp upped their target price on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. TD Cowen increased their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC boosted their price target on Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $390.39.

Insider Activity

In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on 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 directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on 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 owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 11.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,252 shares of company stock worth $89,041,637 in the last 90 days. 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.