Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Goldstein Advisors LLC

Goldstein Advisors LLC lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,282 shares of the network technology company’s stock after selling 31 shares during the quarter. Goldstein Advisors LLC’s holdings in Palo Alto Networks were worth $435,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PANW. Vanguard Group Inc. boosted its position in Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after purchasing an additional 1,002,239 shares in the last quarter. Norges Bank acquired a new position in shares of Palo Alto Networks in the 4th quarter valued at $1,563,020,000. Clearbridge Investments LLC boosted its holdings in Palo Alto Networks by 1.0% during the fourth quarter. Clearbridge Investments LLC now owns 3,136,547 shares of the network technology company’s stock worth $924,905,000 after buying an additional 30,013 shares in the last quarter. Jennison Associates LLC grew its position in Palo Alto Networks by 7.6% during the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after buying an additional 198,078 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Palo Alto Networks by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,746,971 shares of the network technology company’s stock valued at $515,147,000 after buying an additional 84,151 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $293.31, for a total transaction of $10,559,160.00. Following the sale, the executive vice president now directly owns 1,259,567 shares in the company, valued at $369,443,596.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $293.31, for a total value of $10,559,160.00. Following the completion of the transaction, the executive vice president now owns 1,259,567 shares of the company’s stock, valued at approximately $369,443,596.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The disclosure for this sale can be found here. Insiders sold 366,372 shares of company stock worth $118,440,693 in the last three months. 3.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PANW. UBS Group increased their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday. Evercore ISI raised their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday. DA Davidson upped their target price on Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Oppenheimer boosted their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday. Thirteen equities 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 company. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $363.49.

Palo Alto Networks Price Performance

Shares of PANW stock traded down $0.55 during trading hours on Friday, hitting $348.93. The company had a trading volume of 2,202,567 shares, compared to its average volume of 4,422,759. The stock has a market capitalization of $112.98 billion, a PE ratio of 50.86, a price-to-earnings-growth ratio of 4.40 and a beta of 1.14. The company’s fifty day moving average is $329.49 and its 200 day moving average is $311.45. Palo Alto Networks, Inc. has a fifty-two week low of $224.64 and a fifty-two week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 32.74% and a net margin of 31.42%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 2.94 earnings per share for the current year.

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.