Forte Capital LLC ADV Has $909,000 Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Forte Capital LLC ADV lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,659 shares of the network technology company’s stock after selling 178 shares during the quarter. Forte Capital LLC ADV’s holdings in Palo Alto Networks were worth $909,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PANW. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks during the first quarter worth $25,000. Capital Advisors Ltd. LLC raised its position in Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its position in Palo Alto Networks by 177.4% in the 3rd 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 last quarter. Finally, Cape Investment Advisory Inc. increased its stake in shares of Palo Alto Networks by 1,111.1% in the 1st 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 and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PANW. Morgan Stanley upped their price target on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Robert W. Baird raised their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Rosenblatt Securities boosted their price target on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Wedbush reaffirmed an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a research note on Friday, August 16th. Finally, Barclays upped their target price on shares of Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Eleven 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Palo Alto Networks Trading Up 5.2 %

NASDAQ PANW opened at $385.18 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $386.20. The stock has a 50 day moving average of $353.98 and a 200-day moving average of $331.32. The company has a market cap of $125.41 billion, a PE 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 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 in the company, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 255,252 shares of company stock worth $89,383,077 over the last 90 days. Company insiders own 2.50% of the company’s stock.

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.