MRP Capital Investments LLC Sells 745 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

MRP Capital Investments LLC lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,095 shares of the network technology company’s stock after selling 745 shares during the period. Palo Alto Networks accounts for approximately 1.6% of MRP Capital Investments LLC’s holdings, making the stock its 16th biggest position. MRP Capital Investments LLC’s holdings in Palo Alto Networks were worth $1,727,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Aveo Capital Partners LLC purchased a new stake in Palo Alto Networks during the fourth quarter valued at $212,000. Gryphon Financial Partners LLC purchased a new stake in shares of Palo Alto Networks during the 4th quarter valued at about $336,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Palo Alto Networks in the 4th quarter valued at about $840,000. PNC Financial Services Group Inc. grew its position in Palo Alto Networks by 10.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 65,572 shares of the network technology company’s stock worth $19,336,000 after acquiring an additional 6,217 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Palo Alto Networks by 92.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,903 shares of the network technology company’s stock worth $1,151,000 after acquiring an additional 1,877 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the transaction, the president now directly owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the transaction, the president now owns 19,026 shares in the company, valued at $6,452,097.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total value of $22,865,104.68. Following the completion of the sale, the chief executive officer now owns 639,994 shares of the company’s stock, valued at $219,505,142.12. The disclosure for this sale can be found here. Insiders have sold 464,075 shares of company stock worth $154,029,567 over the last quarter. 3.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research report on Monday, August 19th. UBS Group raised their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Stock Down 2.4 %

Shares of NASDAQ:PANW opened at $329.75 on Thursday. The business has a 50-day moving average price of $336.27 and a 200-day moving average price of $312.75. The stock has a market cap of $107.37 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 5.03 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Palo Alto Networks 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.