Palo Alto Networks, Inc. (NASDAQ:PANW) Stake Lessened by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANWFree Report) by 27.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,283 shares of the network technology company’s stock after selling 5,669 shares during the period. Palo Alto Networks accounts for 1.9% of Bouvel Investment Partners LLC’s portfolio, making the stock its 16th largest position. Bouvel Investment Partners LLC’s holdings in Palo Alto Networks were worth $5,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks during the first quarter worth $25,000. Capital Advisors Ltd. LLC lifted its position in shares of Palo Alto Networks by 113.9% in 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 during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL grew its position in shares of 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 buying an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. raised its stake in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Trading Up 1.1 %

PANW opened at $402.36 on Thursday. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $408.53. The stock has a fifty day moving average price of $356.70 and a 200 day moving average price of $334.54. The stock has a market cap of $131.01 billion, a price-to-earnings ratio of 55.50, a PEG ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANWGet Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, sell-side analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PANW. The Goldman Sachs Group increased their target price on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Morgan Stanley increased their price objective on shares of Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Susquehanna boosted their target price on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research note on Thursday, September 5th. Northland Securities raised their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research note on Tuesday, August 20th. Finally, Stifel Nicolaus boosted their price objective on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.87.

Read Our Latest Stock Report on Palo Alto Networks

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 639,994 shares in the company, valued at approximately $219,505,142.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction dated Wednesday, September 4th. The stock was 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 directly owns 639,994 shares in the company, valued at approximately $219,505,142.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 255,252 shares of company stock valued at $89,383,077. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Palo Alto Networks (NASDAQ:PANW)

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