Bank Hapoalim BM Sells 1,110 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Bank Hapoalim BM trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 51.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,067 shares of the network technology company’s stock after selling 1,110 shares during the quarter. Bank Hapoalim BM’s holdings in Palo Alto Networks were worth $365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PANW. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks during the first quarter valued at $25,000. Capital Advisors Ltd. LLC increased its stake in shares of Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC increased its stake in shares of Palo Alto Networks by 352.6% during the third 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 increased its stake in shares of Palo Alto Networks by 177.4% during the third 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 period. Finally, Cape Investment Advisory Inc. increased its stake in shares of 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 valued at $31,000 after buying an additional 100 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PANW shares. Bank of America raised their price target on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. BNP Paribas started coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price target on the stock. Citigroup lifted their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Stifel Nicolaus lifted their target price on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Evercore ISI lifted their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $376.82.

Insider Activity at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were 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 approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 Stock Up 0.8 %

Shares of Palo Alto Networks stock traded up $2.85 during midday trading on Thursday, hitting $362.36. The company’s stock had a trading volume of 171,132 shares, compared to its average volume of 3,933,726. The firm has a market capitalization of $117.98 billion, a P/E ratio of 49.59, a PEG ratio of 5.31 and a beta of 1.13. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. 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 (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.80 EPS. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

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.