Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 91.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,186 shares of the network technology company’s stock after selling 22,207 shares during the quarter. Seven Eight Capital LP’s holdings in Palo Alto Networks were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks in the 1st quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Palo Alto Networks by 3,200.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares during the period. Ulland Investment Advisors LLC acquired a new position in Palo Alto Networks in the 1st quarter valued at about $30,000. Finally, Central Bank & Trust Co. increased its position 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 valued at $30,000 after acquiring an additional 50 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Scotiabank lifted their price objective on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Barclays upped their price objective on shares of Palo Alto Networks from $350.00 to $370.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their target price for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Finally, Needham & Company LLC raised their price objective 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. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $366.08.

Insider Buying and Selling

In other Palo Alto Networks news, 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 sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $47,055,533.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $8,443,916. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 464,075 shares of company stock valued at $154,029,567. 3.30% of the stock is currently owned by company insiders.

Palo Alto Networks Trading Up 2.0 %

Shares of NASDAQ:PANW opened at $340.12 on Friday. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84. The stock’s 50-day moving average price is $336.39 and its two-hundred day moving average price is $313.33. The firm has a market cap of $110.13 billion, a price-to-earnings ratio of 49.44, a PEG ratio of 5.04 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results 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. The firm had revenue of $2.19 billion during 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%. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 3.55 earnings per share 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.