SkyOak Wealth LLC Sells 671 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

SkyOak Wealth LLC lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 46.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 773 shares of the network technology company’s stock after selling 671 shares during the period. SkyOak Wealth LLC’s holdings in Palo Alto Networks were worth $262,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PANW. Vanguard Group Inc. boosted its position in Palo Alto Networks by 3.6% during the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after acquiring an additional 1,002,239 shares during the last quarter. Jennison Associates LLC grew its stake in Palo Alto Networks by 7.6% during the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after purchasing an additional 198,078 shares during the period. William Blair Investment Management LLC increased its holdings in Palo Alto Networks by 8.0% in the second quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock worth $339,183,000 after purchasing an additional 73,922 shares in the last quarter. Axiom Investors LLC DE increased its holdings in Palo Alto Networks by 359.3% in the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock worth $282,406,000 after purchasing an additional 749,199 shares in the last quarter. Finally, Mirova US LLC lifted its stake in Palo Alto Networks by 2.1% in the second quarter. Mirova US LLC now owns 843,447 shares of the network technology company’s stock valued at $285,937,000 after buying an additional 17,060 shares during the period. 79.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Rosenblatt Securities raised their price objective on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 20th. Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. DA Davidson raised their target price on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Robert W. Baird boosted their target price on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $366.08.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $338.00, for a total transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on 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. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,075 shares of company stock worth $154,029,567. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Down 2.4 %

Palo Alto Networks stock opened at $329.75 on Thursday. The firm has a 50 day moving average price of $336.27 and a 200-day moving average price of $312.75. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84. The company has a market capitalization of $107.37 billion, a P/E ratio of 47.93, a P/E/G ratio of 5.03 and a beta of 1.13.

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 for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 earnings per share. Equities analysts expect 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.