TFB Advisors LLC Sells 56 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

TFB Advisors LLC cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,531 shares of the network technology company’s stock after selling 56 shares during the quarter. TFB Advisors LLC’s holdings in Palo Alto Networks were worth $523,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Capital Advisors Ltd. LLC lifted its stake in shares of 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 period. Sound Income Strategies LLC raised its position in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares during the period. Strategic Investment Solutions Inc. IL boosted its stake in shares of Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the 1st quarter valued at $25,000. Finally, First PREMIER Bank increased its stake in shares of Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was 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 owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s 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 directly owns 618,715 shares of the company’s stock, 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. Over the last quarter, insiders sold 255,252 shares of company stock valued at $89,383,077. Insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Up 0.5 %

Shares of Palo Alto Networks stock opened at $387.00 on Friday. The company has a market cap of $126.01 billion, a P/E ratio of 53.38, a PEG ratio of 5.23 and a beta of 1.12. The firm’s 50 day moving average price is $353.98 and its 200-day moving average price is $331.32. Palo Alto Networks, Inc. has a 52-week low of $234.15 and a 52-week high of $387.21.

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, beating 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 company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company posted $0.80 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Needham & Company LLC raised their target price on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI upped their price target on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Finally, Northland Securities upped their target price on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average price target of $378.49.

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.