Sienna Gestion Sells 426 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Sienna Gestion lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 35.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 772 shares of the network technology company’s stock after selling 426 shares during the period. Sienna Gestion’s holdings in Palo Alto Networks were worth $262,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks in the 1st quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Palo Alto Networks during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. raised its stake in Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. Ulland Investment Advisors LLC purchased a new position in Palo Alto Networks in the 1st quarter worth approximately $30,000. Finally, Central Bank & Trust Co. boosted its stake in Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $333.60 on Friday. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84. The firm has a market capitalization of $108.62 billion, a price-to-earnings ratio of 48.49, a PEG ratio of 5.03 and a beta of 1.13. The stock has a 50 day moving average price of $336.32 and a 200 day moving average price of $312.89.

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 the consensus estimate of $1.41 by $0.10. The business had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 EPS. Analysts forecast that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Wall Street Analyst Weigh In

PANW has been the topic of several research analyst reports. BTIG Research boosted their target price on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price objective on Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Needham & Company LLC boosted their target price on Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group raised their price target on Palo Alto Networks from $330.00 to $376.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $366.08.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The sale was disclosed in a filing 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 Palo Alto Networks stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at $8,443,916. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The disclosure for this sale can be found here. Insiders have sold a total of 464,075 shares of company stock worth $154,029,567 in the last three months. Corporate insiders own 3.30% of the company’s stock.

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.