Sather Financial Group Inc Sells 332 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Sather Financial Group Inc trimmed its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.9% during the second quarter, HoldingsChannel.com reports. The firm owned 904 shares of the network technology company’s stock after selling 332 shares during the quarter. Sather Financial Group Inc’s holdings in Palo Alto Networks were worth $306,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Horizon Family Wealth Inc. raised its stake in shares of Palo Alto Networks by 1.1% during the 4th quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after purchasing an additional 28 shares during the period. Manchester Capital Management LLC raised its stake in shares of Palo Alto Networks by 17.2% during the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock valued at $60,000 after purchasing an additional 30 shares during the period. Cascade Investment Group Inc. increased its stake in Palo Alto Networks by 2.9% in the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after acquiring an additional 31 shares during the last quarter. Argonautica Private Wealth Management Inc. increased its stake in Palo Alto Networks by 2.3% in the 4th quarter. Argonautica Private Wealth Management Inc. now owns 1,527 shares of the network technology company’s stock worth $450,000 after acquiring an additional 34 shares during the last quarter. Finally, Sepio Capital LP increased its stake in Palo Alto Networks by 3.7% in the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock worth $278,000 after acquiring an additional 34 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Transactions at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was 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 can be accessed through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $293.31, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John P. Key sold 2,163 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $305.41, for a total value of $660,601.83. Following the transaction, the director now directly owns 12,639 shares of the company’s stock, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 366,372 shares of company stock valued at $118,440,693. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 0.4 %

NASDAQ PANW traded up $1.27 on Friday, hitting $350.75. The company’s stock had a trading volume of 3,415,364 shares, compared to its average volume of 4,430,739. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84. The company’s 50-day simple moving average is $330.16 and its 200 day simple moving average is $311.49. The firm has a market cap of $113.57 billion, a P/E ratio of 50.98, a PEG ratio of 4.40 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The business’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts forecast that Palo Alto Networks, Inc. will post 2.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PANW has been the topic of a number of research analyst reports. Scotiabank upped their target price on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a research note on Monday. Daiwa America upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Macquarie upped their target price on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, Morgan Stanley upped their target price on Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a research note on Tuesday. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $363.49.

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.