Bordeaux Wealth Advisors LLC Trims Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bordeaux Wealth Advisors LLC lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 23.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 661 shares of the network technology company’s stock after selling 206 shares during the period. Bordeaux Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $224,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks in the first quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new position in Palo Alto Networks in the 4th quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. grew its stake in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after buying an additional 96 shares during the period. Ulland Investment Advisors LLC acquired a new stake in shares of Palo Alto Networks during the 1st quarter worth approximately $30,000. Finally, Central Bank & Trust Co. raised its position in shares of Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Down 0.7 %

Shares of PANW opened at $343.74 on Friday. The stock’s 50 day moving average is $335.88 and its two-hundred day moving average is $310.69. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84. The firm has a market capitalization of $111.30 billion, a PE ratio of 49.96, a P/E/G ratio of 5.29 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America increased their price objective on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Robert W. Baird upped their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. BTIG Research increased 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. Finally, Sanford C. Bernstein boosted their price target on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.

Insider Transactions at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares in the company, valued at $10,983,359.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at approximately $55,791,570. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The disclosure for this sale can be found here. Insiders have sold a total of 339,572 shares of company stock valued at $111,126,265 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks 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.