Braun Stacey Associates Inc. Sells 7,513 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Braun Stacey Associates Inc. lessened its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,527 shares of the network technology company’s stock after selling 7,513 shares during the quarter. Braun Stacey Associates Inc.’s holdings in Palo Alto Networks were worth $26,157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PANW. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks during the 1st quarter worth about $25,000. Capital Advisors Ltd. LLC lifted its position in Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares in the last quarter. Sound Income Strategies LLC lifted its position in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. lifted its position in Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the period. Institutional investors own 79.82% of the company’s stock.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of research reports. OTR Global restated a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. DA Davidson upped their price target on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their price target on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Evercore ISI upped their price target on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $384.76.

Palo Alto Networks Stock Down 1.9 %

Shares of PANW stock opened at $387.00 on Monday. The firm has a market capitalization of $126.01 billion, a P/E ratio of 53.38, a P/E/G ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $408.53. The stock’s fifty day simple moving average is $359.86 and its 200 day simple moving average is $336.73.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the transaction, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The trade was a 24.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated 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 directly owns 159,009 shares in the company, valued at $54,854,924.82. The trade was a 27.40 % 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. Insiders own 2.50% of the company’s stock.

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.