Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by 1834 Investment Advisors Co.

1834 Investment Advisors Co. trimmed its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 20.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,587 shares of the network technology company’s stock after selling 645 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Palo Alto Networks were worth $884,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Kathmere Capital Management LLC raised its holdings in shares of Palo Alto Networks by 3.4% in the second quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock worth $312,000 after acquiring an additional 30 shares during the last quarter. FLC Capital Advisors increased its stake in Palo Alto Networks by 0.7% in the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after purchasing an additional 30 shares during the last quarter. Cromwell Holdings LLC increased its stake in Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after purchasing an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in Palo Alto Networks by 9.4% in 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 during the last quarter. Finally, Geneva Partners LLC increased its stake in Palo Alto Networks by 0.3% in the third quarter. Geneva Partners LLC now owns 10,945 shares of the network technology company’s stock valued at $3,741,000 after purchasing an additional 30 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Up 5.2 %

Shares of NASDAQ PANW opened at $385.18 on Thursday. The stock’s 50 day moving average price is $353.98 and its two-hundred day moving average price is $331.32. Palo Alto Networks, Inc. has a 52-week low of $234.15 and a 52-week high of $386.20. The stock has a market capitalization of $125.41 billion, a P/E ratio of 53.13, a PEG ratio of 5.23 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results 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 analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. On average, analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Wall Street Analysts Forecast Growth

PANW has been the subject of several analyst reports. TD Cowen upped their target price on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Sanford C. Bernstein upped their target price on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Wedbush reiterated an “outperform” rating and issued a $375.00 target price on shares of Palo Alto Networks in a research note on Friday, August 16th. Barclays boosted their price target on Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets boosted their price target on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $378.49.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 255,252 shares of company stock worth $89,383,077. 2.50% of the stock is currently owned by company insiders.

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.