Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,899 shares of the network technology company’s stock after selling 2,861 shares during the period. New York State Teachers Retirement System’s holdings in Palo Alto Networks were worth $102,505,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kathmere Capital Management LLC grew its holdings in shares of Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after acquiring an additional 30 shares in the last quarter. FLC Capital Advisors raised its holdings in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after acquiring an additional 30 shares during the period. Cromwell Holdings LLC lifted its position in shares of Palo Alto Networks by 3.0% during the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock worth $357,000 after purchasing an additional 30 shares during the last quarter. Cascade Investment Group Inc. lifted its holdings in shares of Palo Alto Networks by 2.9% during the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after buying an additional 31 shares during the last quarter. Finally, Herbst Group LLC boosted its holdings in Palo Alto Networks by 0.3% in the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock valued at $3,313,000 after purchasing an additional 31 shares during the period. 79.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction 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 owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 351,452 shares of company stock valued at $118,643,279 over the last 90 days. 3.30% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Performance

NASDAQ:PANW traded down $0.94 during mid-day trading on Wednesday, hitting $364.45. The stock had a trading volume of 143,633 shares, compared to its average volume of 3,945,326. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00. The company’s 50 day simple moving average is $352.24 and its 200 day simple moving average is $327.94. The stock has a market cap of $118.66 billion, a price-to-earnings ratio of 50.30, a PEG ratio of 5.31 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The business 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 revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PANW. Rosenblatt Securities raised their target price on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. UBS Group increased their target price on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. JMP Securities reissued a “market outperform” rating and issued a $380.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, BNP Paribas began coverage on Palo Alto Networks in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and an average price target of $376.82.

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.