Palo Alto Networks, Inc. (NASDAQ:PANW) Holdings Lowered by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 39.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 103,100 shares of the network technology company’s stock after selling 68,144 shares during the period. TimesSquare Capital Management LLC’s holdings in Palo Alto Networks were worth $35,240,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PANW. Concurrent Investment Advisors LLC raised its stake in shares of Palo Alto Networks by 16.1% in the 1st quarter. Concurrent Investment Advisors LLC now owns 4,470 shares of the network technology company’s stock worth $1,270,000 after buying an additional 621 shares in the last quarter. Abbrea Capital LLC lifted its holdings in Palo Alto Networks by 5.8% in the 1st quarter. Abbrea Capital LLC now owns 841 shares of the network technology company’s stock valued at $239,000 after acquiring an additional 46 shares during the last quarter. WNY Asset Management LLC bought a new position in shares of Palo Alto Networks during the 1st quarter valued at about $305,000. NorthRock Partners LLC grew its stake in shares of Palo Alto Networks by 9.0% in the 1st quarter. NorthRock Partners LLC now owns 1,399 shares of the network technology company’s stock worth $397,000 after purchasing an additional 116 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Palo Alto Networks by 4.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 4,278 shares of the network technology company’s stock worth $1,216,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now directly owns 41,517 shares in the company, valued at approximately $14,175,564.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the sale, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock worth $89,383,077 over the last quarter. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Susquehanna raised their target price on shares of Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a report on Thursday, September 5th. Bank of America lifted their target price on Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Robert W. Baird upped their target price on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. The Goldman Sachs Group lifted their price target on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Palo Alto Networks Trading Up 1.1 %

PANW opened at $391.40 on Friday. The stock has a market cap of $127.44 billion, a PE ratio of 53.99, a P/E/G ratio of 5.59 and a beta of 1.12. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $393.21. The stock’s 50 day simple moving average is $355.13 and its 200-day simple moving average is $332.47.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The business’s revenue was up 12.1% on a year-over-year basis. Equities analysts forecast that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current fiscal 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.