Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lessened its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 50.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 775 shares of the network technology company’s stock after selling 790 shares during the period. Inspire Investing LLC’s holdings in Palo Alto Networks were worth $263,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks during the first quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. raised 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 worth $28,000 after buying an additional 96 shares in the last quarter. Ulland Investment Advisors LLC acquired a new stake in shares of Palo Alto Networks in the first quarter valued at $30,000. Finally, Central Bank & Trust Co. boosted its stake in Palo Alto Networks by 89.3% during the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.2 %

Shares of Palo Alto Networks stock opened at $343.52 on Wednesday. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84. The stock has a 50 day moving average price of $336.56 and a two-hundred day moving average price of $314.43. The stock has a market capitalization of $111.23 billion, a P/E ratio of 49.93, a PEG ratio of 5.04 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted 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 business had revenue of $2.19 billion for 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%. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. During the same period last year, the business posted $0.80 EPS. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the firm’s stock in a transaction that occurred 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 sale, the president now owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the stock in a transaction on Monday, July 1st. The shares were 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 directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total transaction of $67,600.00. Following the transaction, the chief accounting officer now owns 24,982 shares in the company, valued at approximately $8,443,916. The disclosure for this sale can be found here. In the last 90 days, insiders sold 464,075 shares of company stock valued at $154,029,567. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America upped their price target on shares of Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Rosenblatt Securities raised their target price on shares of Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Barclays upped their price target on Palo Alto Networks from $350.00 to $370.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Daiwa Capital Markets initiated coverage on Palo Alto Networks in a research report on Wednesday, May 29th. They set an “outperform” rating and a $350.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Thirteen 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. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Company 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.