Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. trimmed its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 67.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 625 shares of the network technology company’s stock after selling 1,325 shares during the quarter. New England Research & Management Inc.’s holdings in Palo Alto Networks were worth $214,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. raised its position in Palo Alto Networks by 3,200.0% in the first 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 period. Central Bank & Trust Co. lifted 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 worth $30,000 after purchasing an additional 50 shares in the last quarter. Cape Investment Advisory Inc. boosted its position in shares of Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after buying an additional 100 shares during the period. Finally, New England Capital Financial Advisors LLC grew its stake in shares of Palo Alto Networks by 833.3% in the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 1.3 %

NASDAQ:PANW opened at $337.94 on Tuesday. Palo Alto Networks, Inc. has a 12-month low of $233.81 and a 12-month high of $380.84. The stock’s 50 day simple moving average is $337.94 and its 200-day simple moving average is $317.39. The firm has a market cap of $110.03 billion, a P/E ratio of 49.12, a PEG ratio of 4.82 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company 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 quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. Research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Insider Activity at Palo Alto Networks

In other news, CAO Josh D. Paul sold 200 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,866 shares of company stock worth $88,620,447 over the last 90 days. Company insiders own 3.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PANW. Robert W. Baird raised their target price on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. KeyCorp upped their target price on shares of Palo Alto Networks from $380.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Scotiabank raised their price target 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. Finally, Wedbush reaffirmed an “outperform” rating and set a $375.00 price objective on shares of Palo Alto Networks in a research report on Friday, August 16th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $369.26.

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.