Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Hanlon Investment Management Inc.

Hanlon Investment Management Inc. lowered its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,206 shares of the network technology company’s stock after selling 61 shares during the quarter. Hanlon Investment Management Inc.’s holdings in Palo Alto Networks were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks in the first quarter worth $25,000. Capital Advisors Ltd. LLC increased its position in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after acquiring an additional 41 shares during the period. Sound Income Strategies LLC raised its stake in Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its position in Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. grew its stake in Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock valued at $89,383,077 in the last three months. 2.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PANW has been the subject of several research analyst reports. Cantor Fitzgerald upgraded Palo Alto Networks to a “strong-buy” rating in a research note on Friday. Sanford C. Bernstein raised their price target on shares of Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Robert W. Baird upped their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. DA Davidson raised their target price on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Trading Up 0.1 %

PANW stock opened at $361.51 on Tuesday. The firm has a 50-day moving average of $352.97 and a two-hundred day moving average of $330.32. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00. The company has a market cap of $117.71 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 5.26 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $0.80 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

About Palo Alto Networks

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.