ProVise Management Group LLC Sells 103 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

ProVise Management Group LLC decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 11.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 788 shares of the network technology company’s stock after selling 103 shares during the period. ProVise Management Group LLC’s holdings in Palo Alto Networks were worth $267,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Palo Alto Networks by 3.6% during the first 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 raised its position in Palo Alto Networks by 7.6% during 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 purchasing an additional 198,078 shares in the last quarter. William Blair Investment Management LLC raised its position in Palo Alto Networks by 8.0% during the second quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company’s stock valued at $339,183,000 after purchasing an additional 73,922 shares in the last quarter. Axiom Investors LLC DE raised its position in Palo Alto Networks by 359.3% during the fourth quarter. Axiom Investors LLC DE now owns 957,699 shares of the network technology company’s stock valued at $282,406,000 after purchasing an additional 749,199 shares in the last quarter. Finally, Mirova US LLC raised its position in Palo Alto Networks by 2.1% during the second quarter. Mirova US LLC now owns 843,447 shares of the network technology company’s stock valued at $285,937,000 after purchasing an additional 17,060 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 2.0 %

Shares of NASDAQ PANW opened at $340.12 on Friday. Palo Alto Networks, Inc. has a twelve month low of $224.64 and a twelve month high of $380.84. The firm has a market cap of $110.74 billion, a P/E ratio of 49.44, a PEG ratio of 5.04 and a beta of 1.13. The company has a 50 day moving average of $336.39 and a 200 day moving average of $313.18.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping 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 analyst estimates of $2.16 billion. During the same period in the previous year, the business earned $0.80 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

PANW has been the topic of several analyst reports. Oppenheimer lifted their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Barclays lifted their price objective on Palo Alto Networks from $350.00 to $370.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $350.00 price objective on shares of Palo Alto Networks in a report on Monday, August 19th. Finally, Needham & Company LLC lifted their price objective on Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $366.08.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.16, for a total value of $12,209,760.00. Following the completion of the sale, the executive vice president now directly owns 1,223,567 shares in the company, valued at approximately $414,984,983.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the sale, the president now owns 19,026 shares of the company’s stock, valued at $6,452,097.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 464,075 shares of company stock worth $154,029,567. Insiders own 3.30% of the company’s stock.

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.