Gulf International Bank UK Ltd Sells 1,170 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Gulf International Bank UK Ltd reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,230 shares of the network technology company’s stock after selling 1,170 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Palo Alto Networks were worth $8,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PANW. Kathmere Capital Management LLC increased its stake in shares of Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after purchasing an additional 30 shares during the last quarter. FLC Capital Advisors lifted its holdings 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 during the period. Cromwell Holdings LLC boosted its position in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after acquiring an additional 30 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in Palo Alto Networks by 9.4% during the third quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after purchasing an additional 30 shares in the last quarter. Finally, Cascade Investment Group Inc. lifted its stake in Palo Alto Networks by 2.9% during the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after purchasing an additional 31 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 0.4 %

NASDAQ:PANW opened at $361.12 on Tuesday. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $384.00. The firm has a market cap of $117.58 billion, a PE ratio of 49.81, a price-to-earnings-growth ratio of 5.26 and a beta of 1.12. The stock has a fifty day moving average price of $352.97 and a 200 day moving average price of $330.32.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. 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 prior year, the firm earned $0.80 EPS. Palo Alto Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Analyst Ratings Changes

PANW has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. TD Cowen upped their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. BTIG Research boosted their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. KeyCorp increased their price target on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $350.00 to $325.00 in a research report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $378.49.

Insider Activity at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at $14,175,564.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Nikesh Arora sold 66,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total value of $22,865,104.68. Following the transaction, the chief executive officer now owns 639,994 shares in the company, valued at approximately $219,505,142.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the sale, the director now owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock worth $89,383,077 in the last quarter. Company insiders own 2.50% of the company’s stock.

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.