Aviso Wealth Management Decreases Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Aviso Wealth Management trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.7% in the third quarter, Holdings Channel reports. The firm owned 2,494 shares of the network technology company’s stock after selling 150 shares during the period. Aviso Wealth Management’s holdings in Palo Alto Networks were worth $852,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its position in Palo Alto Networks by 34,318.2% in 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 buying an additional 3,249,594 shares during the last quarter. Swedbank AB bought a new position in shares of Palo Alto Networks during the first quarter worth about $177,933,000. Altshuler Shaham Ltd lifted its position in shares of Palo Alto Networks by 444,100.0% during the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after purchasing an additional 444,100 shares during the last quarter. Congress Asset Management Co. bought a new position in shares of Palo Alto Networks during the third quarter worth about $94,875,000. Finally, Legal & General Group Plc lifted its position in shares of Palo Alto Networks by 8.5% during the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after purchasing an additional 255,060 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PANW. Morgan Stanley increased their price objective on shares of Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada increased their price objective on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Susquehanna increased their price objective on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research note on Thursday, September 5th. Wells Fargo & Company raised their price target on shares of Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, TD Cowen raised their price target on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $384.76.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the sale, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. This represents a 27.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,252 shares of company stock worth $89,041,637. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Down 1.9 %

NASDAQ PANW opened at $387.00 on Monday. The firm has a market capitalization of $126.01 billion, a P/E ratio of 53.38, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12. The firm’s fifty day moving average price is $359.86 and its two-hundred day moving average price is $336.73. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results 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. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, research analysts anticipate 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.