Financial Partners Group LLC Sells 273 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Financial Partners Group LLC cut its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,423 shares of the network technology company’s stock after selling 273 shares during the quarter. Palo Alto Networks accounts for about 4.2% of Financial Partners Group LLC’s portfolio, making the stock its 5th largest holding. Financial Partners Group LLC’s holdings in Palo Alto Networks were worth $11,082,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Kathmere Capital Management LLC raised its position 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 purchasing an additional 30 shares during the last quarter. FLC Capital Advisors raised its holdings in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares during the last quarter. Cascade Investment Group Inc. boosted its position in Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares during the period. Herbst Group LLC boosted its position in Palo Alto Networks by 0.3% during the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock worth $3,313,000 after buying an additional 31 shares during the period. Finally, First PREMIER Bank grew its holdings in Palo Alto Networks by 48.4% during the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the sale, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,452 shares of company stock worth $118,643,279 in the last quarter. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Performance

Shares of PANW stock opened at $364.58 on Friday. The company has a 50-day simple moving average of $350.84 and a two-hundred day simple moving average of $325.17. The company has a market capitalization of $118.71 billion, a price-to-earnings ratio of 50.29, a PEG ratio of 5.45 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion for 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%. Palo Alto Networks’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. On average, sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of recent research reports. Rosenblatt Securities lifted their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Northland Securities lifted their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. Wedbush reissued an “outperform” rating and issued a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. Royal Bank of Canada lifted their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Finally, Oppenheimer raised their price target on shares of Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $376.82.

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.