Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,068 shares of the network technology company’s stock after selling 88 shares during the period. Rehmann Capital Advisory Group’s holdings in Palo Alto Networks were worth $303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in shares of Palo Alto Networks in the third quarter valued at $771,000. Harbour Investments Inc. raised its holdings in shares of Palo Alto Networks by 5.6% during the third quarter. Harbour Investments Inc. now owns 1,566 shares of the network technology company’s stock worth $367,000 after acquiring an additional 83 shares in the last quarter. Creative Planning increased its position in Palo Alto Networks by 21.3% during the third quarter. Creative Planning now owns 45,870 shares of the network technology company’s stock worth $10,754,000 after buying an additional 8,059 shares during the last quarter. Graham Capital Management L.P. acquired a new stake in shares of Palo Alto Networks in the third quarter valued at about $1,031,000. Finally, USA Financial Formulas acquired a new stake in shares of Palo Alto Networks in the third quarter valued at about $206,000. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total value of $99,820.00. Following the sale, the director now directly owns 3,767 shares of the company’s stock, valued at approximately $1,167,770. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $288.24, for a total value of $10,376,640.00. Following the transaction, the executive vice president now owns 1,295,567 shares in the company, valued at approximately $373,434,232.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Aparna Bawa sold 322 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $310.00, for a total transaction of $99,820.00. Following the completion of the transaction, the director now owns 3,767 shares in the company, valued at approximately $1,167,770. The disclosure for this sale can be found here. Insiders have sold 302,525 shares of company stock valued at $93,982,207 in the last three months. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PANW shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $360.00 price target on shares of Palo Alto Networks in a research report on Wednesday, June 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $330.00 price target on shares of Palo Alto Networks in a research report on Tuesday, May 21st. Sanford C. Bernstein raised their price target on Palo Alto Networks from $335.00 to $364.00 and gave the company an “outperform” rating in a research report on Tuesday, May 21st. Redburn Atlantic lifted their target price on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada decreased their target price on Palo Alto Networks from $365.00 to $360.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Twelve analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $326.29.

Palo Alto Networks Trading Up 0.2 %

Shares of PANW stock traded up $0.66 on Wednesday, hitting $336.84. The stock had a trading volume of 1,475,093 shares, compared to its average volume of 4,691,984. Palo Alto Networks, Inc. has a twelve month low of $201.17 and a twelve month high of $380.84. The firm has a market cap of $109.07 billion, a P/E ratio of 48.38, a PEG ratio of 5.17 and a beta of 1.14. The company has a fifty day moving average price of $313.98 and a two-hundred day moving average price of $308.92.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings results on Monday, May 20th. The network technology company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.07. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.97 billion. Palo Alto Networks had a net margin of 31.42% and a return on equity of 32.74%. The firm’s revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. On average, analysts expect that Palo Alto Networks, Inc. will post 2.94 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.