Mutual Advisors LLC Has $2.78 Million Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mutual Advisors LLC reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,629 shares of the network technology company’s stock after selling 175 shares during the quarter. Mutual Advisors LLC’s holdings in Palo Alto Networks were worth $2,781,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PANW. Kathmere Capital Management LLC grew its holdings in Palo Alto Networks by 3.4% during 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 period. FLC Capital Advisors grew its holdings in shares of 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 period. Cromwell Holdings LLC increased its position 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 buying an additional 30 shares in the last quarter. Cascade Investment Group Inc. raised its stake 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. Finally, Herbst Group LLC lifted its holdings in Palo Alto Networks by 0.3% during the third quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock worth $3,313,000 after acquiring an additional 31 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 1st. The stock was 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 owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 315,252 shares of company stock worth $107,138,877 in the last quarter. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Down 1.6 %

NASDAQ:PANW opened at $359.51 on Thursday. The stock has a 50 day simple moving average of $352.23 and a 200 day simple moving average of $328.16. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The stock has a market cap of $117.06 billion, a P/E ratio of 49.59, a PEG ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Cowen increased their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Stifel Nicolaus raised their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Evercore ISI upped their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Barclays raised their price objective on shares of Palo Alto Networks from $370.00 to $410.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada increased their target price on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average target price 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.