Greystone Financial Group LLC Sells 121 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Greystone Financial Group LLC reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.6% during the third quarter, Holdings Channel.com reports. The firm owned 4,620 shares of the network technology company’s stock after selling 121 shares during the quarter. Greystone Financial Group LLC’s holdings in Palo Alto Networks were worth $1,579,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after acquiring an additional 1,002,239 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Palo Alto Networks by 34,318.2% during the third quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after buying an additional 3,249,594 shares during the last quarter. Legal & General Group Plc grew its holdings in Palo Alto Networks by 8.5% during the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after buying an additional 255,060 shares in the last quarter. Jennison Associates LLC raised its position in Palo Alto Networks by 7.6% in the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after buying an additional 198,078 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Palo Alto Networks by 5.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock valued at $757,321,000 after acquiring an additional 114,742 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Palo Alto Networks Trading Down 4.8 %

Shares of NASDAQ PANW opened at $358.19 on Thursday. The business has a 50-day moving average of $350.84 and a 200-day moving average of $325.17. The firm has a market capitalization of $115.98 billion, a price-to-earnings ratio of 52.06, a PEG ratio of 5.43 and a beta of 1.13. Palo Alto Networks, Inc. has a 12 month low of $233.81 and a 12 month high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating 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 analysts’ expectations of $2.16 billion. During the same quarter last year, the company posted $0.80 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Insider Activity

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $317.77, for a total transaction of $11,439,720.00. Following the completion of the sale, the executive vice president now directly owns 1,187,567 shares in the company, valued at $377,373,165.59. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 351,452 shares of company stock worth $118,643,279. 3.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI increased their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their target price on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group increased their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Northland Securities boosted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. Finally, Stifel Nicolaus raised their target price on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Eleven equities research 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.com, the company has an average rating of “Moderate Buy” and an average price target of $376.82.

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.