Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Savoie Capital LLC

Savoie Capital LLC lowered its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 26.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,929 shares of the network technology company’s stock after selling 3,500 shares during the period. Savoie Capital LLC’s holdings in Palo Alto Networks were worth $3,366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PANW. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new stake in Palo Alto Networks during the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. grew its stake in shares of Palo Alto Networks by 3,200.0% in 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 last quarter. Ulland Investment Advisors LLC purchased a new position in shares of Palo Alto Networks in the 1st quarter valued at approximately $30,000. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Palo Alto Networks in the fourth quarter valued at approximately $31,000. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $335.00, for a total transaction of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the transaction, the chief executive officer now owns 639,994 shares in the company, valued at approximately $219,505,142.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 125,866 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $335.00, for a total value of $42,165,110.00. Following the completion of the sale, the executive vice president now owns 166,542 shares of the company’s stock, valued at $55,791,570. The disclosure for this sale can be found here. Insiders sold a total of 464,075 shares of company stock worth $154,029,567 in the last ninety days. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 1.2 %

Shares of NASDAQ:PANW opened at $344.17 on Tuesday. The company has a market cap of $111.44 billion, a P/E ratio of 50.02, a P/E/G ratio of 5.04 and a beta of 1.13. The business has a fifty day simple moving average of $336.46 and a 200-day simple moving average of $313.98. 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 posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Daiwa Capital Markets began coverage on shares of Palo Alto Networks in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a report on Monday, August 19th. Wedbush reiterated an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a research note on Friday, August 16th. Barclays raised their price objective on shares of Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.