Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Goepper Burkhardt LLC

Goepper Burkhardt LLC decreased its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 35.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 707 shares of the network technology company’s stock after selling 386 shares during the quarter. Goepper Burkhardt LLC’s holdings in Palo Alto Networks were worth $240,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Palo Alto Networks by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after purchasing an additional 1,002,239 shares in the last quarter. Jennison Associates LLC increased its holdings in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after buying an additional 198,078 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Palo Alto Networks by 5.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after acquiring an additional 114,742 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Palo Alto Networks by 8.0% during the 2nd quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock worth $339,183,000 after acquiring an additional 73,922 shares in the last quarter. Finally, Axiom Investors LLC DE grew its position in shares of Palo Alto Networks by 359.3% during the 4th quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after acquiring an additional 749,199 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

NASDAQ:PANW opened at $340.12 on Friday. Palo Alto Networks, Inc. has a fifty-two week low of $224.64 and a fifty-two week high of $380.84. The company has a 50 day moving average price of $336.39 and a 200 day moving average price of $313.33. The stock has a market capitalization of $110.13 billion, a P/E ratio of 49.44, a PEG ratio of 5.04 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS 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 analyst estimates of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.80 earnings per share. Research analysts forecast that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the completion of the transaction, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Josh D. Paul sold 200 shares of the business’s 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 completion of the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. 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 three months. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PANW. JMP Securities reiterated a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Northland Securities lifted their price target on shares of Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their price objective on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Needham & Company LLC lifted their target price on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Citigroup boosted their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. 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 a consensus rating of “Moderate Buy” and an average target price of $366.08.

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.