Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by BBR Partners LLC

BBR Partners LLC lowered its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 54.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,425 shares of the network technology company’s stock after selling 1,735 shares during the quarter. BBR Partners LLC’s holdings in Palo Alto Networks were worth $483,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Horizon Family Wealth Inc. boosted its holdings in Palo Alto Networks by 1.1% during the fourth quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock worth $726,000 after buying an additional 28 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Palo Alto Networks by 17.2% during the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock worth $60,000 after acquiring an additional 30 shares in the last quarter. Cascade Investment Group Inc. grew its holdings in shares of Palo Alto Networks by 2.9% in the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after acquiring an additional 31 shares during the period. Sepio Capital LP grew its holdings in shares of Palo Alto Networks by 3.7% in the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock worth $278,000 after acquiring an additional 34 shares during the period. Finally, Sheets Smith Wealth Management boosted its position in Palo Alto Networks by 2.4% during the first quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after purchasing an additional 34 shares in the last quarter. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 125,866 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 166,542 shares in the company, valued at approximately $55,791,570. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Lee Klarich sold 125,866 shares of the business’s stock in a transaction dated 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 approximately $55,791,570. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John P. Key sold 2,163 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the transaction, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The disclosure for this sale can be found here. Insiders have sold 339,572 shares of company stock worth $111,126,265 in the last three months. 3.30% of the stock is owned by insiders.

Analysts Set New Price Targets

PANW has been the subject of a number of research analyst reports. DA Davidson raised their price target on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Stifel Nicolaus lifted their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI increased their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company lifted their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Thirteen investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Stock Down 0.7 %

PANW opened at $343.74 on Friday. The firm’s 50 day moving average is $335.88 and its 200-day moving average is $310.69. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84. The firm has a market capitalization of $111.30 billion, a P/E ratio of 49.96, a P/E/G ratio of 5.29 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

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.