Gemmer Asset Management LLC Sells 40 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Gemmer Asset Management LLC cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 599 shares of the network technology company’s stock after selling 40 shares during the quarter. Gemmer Asset Management LLC’s holdings in Palo Alto Networks were worth $205,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PANW. Aviance Capital Partners LLC bought a new stake in shares of Palo Alto Networks in the 1st quarter worth $921,000. Miracle Mile Advisors LLC increased its stake in Palo Alto Networks by 10.4% in the 1st quarter. Miracle Mile Advisors LLC now owns 5,138 shares of the network technology company’s stock valued at $1,460,000 after buying an additional 482 shares during the last quarter. Claro Advisors LLC lifted its position in shares of Palo Alto Networks by 84.0% during the 1st quarter. Claro Advisors LLC now owns 3,324 shares of the network technology company’s stock worth $944,000 after buying an additional 1,517 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Palo Alto Networks by 232.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 426 shares of the network technology company’s stock worth $121,000 after buying an additional 298 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of Palo Alto Networks by 11,603.9% in the first quarter. Farmers & Merchants Investments Inc. now owns 23,993 shares of the network technology company’s stock valued at $6,817,000 after acquiring an additional 23,788 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity

In related news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares in the company, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Trading Up 0.5 %

Shares of NASDAQ PANW opened at $368.12 on Monday. The stock’s 50-day moving average is $351.91 and its 200 day moving average is $326.78. The stock has a market cap of $119.20 billion, a price-to-earnings ratio of 53.51, a P/E/G ratio of 5.45 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.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data 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. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the business posted $0.80 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Analyst Ratings Changes

PANW has been the subject of several recent analyst reports. Northland Securities upped their target price on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. Needham & Company LLC upped their target price on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. The Goldman Sachs Group upped their target price on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Evercore ISI upped their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Barclays upped their target price on Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $376.82.

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.