Activest Wealth Management Sells 593 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Activest Wealth Management lessened its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 53.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 509 shares of the network technology company’s stock after selling 593 shares during the quarter. Activest Wealth Management’s holdings in Palo Alto Networks were worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PANW. International Assets Investment Management LLC grew its stake in shares of Palo Alto Networks by 34,318.2% in the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock worth $1,113,948,000 after acquiring an additional 3,249,594 shares during the last quarter. Legal & General Group Plc grew its position in Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock valued at $1,099,564,000 after purchasing an additional 255,060 shares during the last quarter. Jennison Associates LLC raised its holdings in Palo Alto Networks by 50.1% in the third quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock worth $1,075,718,000 after buying an additional 1,050,173 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Palo Alto Networks by 5.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock valued at $757,321,000 after buying an additional 114,742 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Palo Alto Networks by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,005,161 shares of the network technology company’s stock valued at $685,364,000 after acquiring an additional 31,595 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This represents a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary Pat Mccarthy sold 10,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. This trade represents a 24.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,252 shares of company stock worth $89,041,637. 2.50% of the stock is currently owned by insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW traded up $3.19 during midday trading on Thursday, reaching $396.08. 2,028,035 shares of the company’s stock were exchanged, compared to its average volume of 3,835,690. The stock has a market cap of $128.96 billion, a price-to-earnings ratio of 52.50, a P/E/G ratio of 5.63 and a beta of 1.12. The firm’s 50 day simple moving average is $362.55 and its two-hundred day simple moving average is $338.41. Palo Alto Networks, Inc. has a fifty-two week low of $260.09 and a fifty-two week high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings results on Wednesday, November 20th. The network technology company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.08. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PANW. Oppenheimer lifted their target price on Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. BTIG Research boosted their price objective on shares of Palo Alto Networks from $395.00 to $414.00 and gave the company a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $402.56.

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.