Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. cut its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,038 shares of the network technology company’s stock after selling 148 shares during the period. Wrapmanager Inc.’s holdings in Palo Alto Networks were worth $355,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its stake in Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares during the last quarter. Sound Income Strategies LLC grew its holdings in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL increased its stake in shares of Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks during the 1st quarter worth about $25,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Palo Alto Networks in the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Up 0.3 %

PANW stock opened at $388.06 on Wednesday. The firm has a market cap of $126.35 billion, a P/E ratio of 53.53, a P/E/G ratio of 5.61 and a beta of 1.12. The stock’s 50 day simple moving average is $361.53 and its 200 day simple moving average is $338.02. Palo Alto Networks, Inc. has a 12-month low of $249.56 and a 12-month high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 represents a 24.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 11.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,252 shares of company stock valued at $89,041,637 in the last quarter. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on PANW shares. Robert W. Baird upped their price target on shares of Palo Alto Networks from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. UBS Group increased their target price on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group lifted their target price on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. BTIG Research upped their price target on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. 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-nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $391.92.

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.