Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Park Place Capital Corp

Park Place Capital Corp trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 14.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,021 shares of the network technology company’s stock after selling 176 shares during the period. Park Place Capital Corp’s holdings in Palo Alto Networks were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PANW. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. increased its holdings 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 worth $28,000 after acquiring an additional 96 shares during the period. Central Bank & Trust Co. increased its holdings in shares of 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 acquiring an additional 50 shares during the period. Cape Investment Advisory Inc. increased its holdings in shares of Palo Alto Networks by 1,111.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares during the period. Finally, New England Capital Financial Advisors LLC increased its holdings in shares of Palo Alto Networks by 833.3% in the 1st quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock worth $32,000 after acquiring an additional 100 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nikesh Arora sold 66,666 shares of the firm’s stock in a transaction that occurred 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 directly owns 639,994 shares in the company, valued at approximately $219,505,142.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 269,866 shares of company stock valued at $88,620,447. 3.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PANW. Bank of America increased their price objective on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a report on Monday, August 19th. Wedbush reaffirmed an “outperform” rating and issued a $375.00 price objective on shares of Palo Alto Networks in a report on Friday, August 16th. The Goldman Sachs Group increased their price objective on shares of Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Robert W. Baird raised their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and a consensus target price of $371.50.

Palo Alto Networks Price Performance

NASDAQ PANW opened at $355.13 on Wednesday. The company has a 50 day simple moving average of $338.26 and a 200-day simple moving average of $317.74. The firm has a market capitalization of $114.99 billion, a price-to-earnings ratio of 51.62, a price-to-earnings-growth ratio of 4.82 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. On average, analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

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.