Palo Alto Networks, Inc. (NASDAQ:PANW) Holdings Trimmed by Catalytic Wealth RIA LLC

Catalytic Wealth RIA LLC trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 6.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,641 shares of the network technology company’s stock after selling 109 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Palo Alto Networks were worth $561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after purchasing an additional 1,002,239 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after acquiring an additional 3,249,594 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of 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 acquiring an additional 255,060 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Palo Alto Networks by 5.4% during the 2nd 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 acquiring an additional 114,742 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Palo Alto Networks by 8.0% during the 2nd quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock valued at $339,183,000 after acquiring an additional 73,922 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. 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. Also, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks 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 directly owns 41,517 shares of the company’s stock, 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 sold 255,252 shares of company stock valued at $89,383,077 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PANW shares. UBS Group lifted their price objective on shares of Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Westpark Capital reaffirmed a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. DA Davidson lifted their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Barclays lifted their price objective on shares of Palo Alto Networks from $410.00 to $425.00 and gave the company an “overweight” rating in a research note on Monday. Finally, OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research note on Thursday, November 7th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.87.

Palo Alto Networks Stock Performance

PANW opened at $398.10 on Tuesday. The firm’s fifty day moving average is $355.13 and its two-hundred day moving average is $333.01. The firm has a market cap of $129.62 billion, a PE ratio of 54.91, a price-to-earnings-growth ratio of 5.68 and a beta of 1.12. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $400.69.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

About Palo Alto Networks

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.