Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,280 shares of the network technology company’s stock after selling 1,325 shares during the period. Palo Alto Networks accounts for approximately 3.2% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 11th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Palo Alto Networks were worth $42,840,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its holdings in shares of Palo Alto Networks by 62.4% in the third quarter. Exchange Traded Concepts LLC now owns 7,230 shares of the network technology company’s stock valued at $1,695,000 after purchasing an additional 2,779 shares during the period. Oak Thistle LLC acquired a new position in shares of Palo Alto Networks in the third quarter valued at approximately $235,000. Handelsbanken Fonder AB increased its holdings in shares of Palo Alto Networks by 2.1% in the third quarter. Handelsbanken Fonder AB now owns 80,264 shares of the network technology company’s stock valued at $18,817,000 after purchasing an additional 1,673 shares during the period. Jmac Enterprises LLC increased its holdings in shares of Palo Alto Networks by 23.1% in the third quarter. Jmac Enterprises LLC now owns 1,894 shares of the network technology company’s stock valued at $444,000 after purchasing an additional 356 shares during the period. Finally, Ballentine Partners LLC boosted its stake in shares of Palo Alto Networks by 3.1% in the third quarter. Ballentine Partners LLC now owns 5,834 shares of the network technology company’s stock valued at $1,368,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In other news, CAO Josh D. Paul sold 1,050 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total transaction of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at approximately $7,629,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Josh D. Paul sold 1,050 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $280.00, for a total value of $294,000.00. Following the sale, the chief accounting officer now directly owns 27,247 shares in the company, valued at approximately $7,629,160. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $284.33, for a total value of $17,059,800.00. Following the completion of the sale, the executive vice president now owns 198,105 shares in the company, valued at $56,327,194.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 167,917 shares of company stock worth $49,395,553. 3.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PANW has been the topic of a number of analyst reports. Loop Capital downgraded Palo Alto Networks from a “buy” rating to a “hold” rating and set a $300.00 price target on the stock. in a research note on Wednesday, February 21st. Capital One Financial downgraded Palo Alto Networks from an “overweight” rating to an “equal weight” rating and set a $302.00 target price on the stock. in a research report on Wednesday, February 21st. KeyCorp decreased their target price on Palo Alto Networks from $380.00 to $355.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. The Goldman Sachs Group boosted their target price on Palo Alto Networks from $274.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Northland Securities downgraded Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $275.00 target price on the stock. in a research report on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $314.82.

Palo Alto Networks Stock Up 0.9 %

NASDAQ:PANW traded up $2.63 during trading hours on Friday, reaching $291.42. 2,246,512 shares of the stock were exchanged, compared to its average volume of 3,487,617. The firm has a 50 day simple moving average of $287.61 and a 200-day simple moving average of $292.10. Palo Alto Networks, Inc. has a 52 week low of $176.30 and a 52 week high of $380.84. The stock has a market capitalization of $94.16 billion, a P/E ratio of 45.53, a P/E/G ratio of 3.93 and a beta of 1.19.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Tuesday, February 20th. The network technology company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. Palo Alto Networks had a return on equity of 36.58% and a net margin of 30.24%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. As a group, analysts expect that Palo Alto Networks, Inc. will post 2.77 earnings per share for the current year.

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.