Crescent Grove Advisors LLC Has $207,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crescent Grove Advisors LLC cut its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 41.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 605 shares of the network technology company’s stock after selling 430 shares during the period. Crescent Grove Advisors LLC’s holdings in Palo Alto Networks were worth $207,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PANW. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks during the first quarter worth about $25,000. Capital Advisors Ltd. LLC boosted its holdings 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 buying an additional 41 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. raised its position in 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 acquiring an additional 100 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PANW has been the subject of a number of analyst reports. BNP Paribas assumed coverage on shares of Palo Alto Networks in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $410.00 price objective for the company. TD Cowen boosted their price target on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. UBS Group upped their price objective on Palo Alto Networks from $345.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley lifted their target price on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, 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 note on Tuesday, October 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents 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, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,252 shares of company stock worth $89,383,077 in the last ninety days. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW opened at $385.18 on Thursday. Palo Alto Networks, Inc. has a 52-week low of $234.15 and a 52-week high of $386.20. The company has a market capitalization of $125.41 billion, a PE ratio of 53.13, a price-to-earnings-growth ratio of 5.23 and a beta of 1.12. The company has a fifty day moving average of $353.98 and a 200-day moving average of $331.32.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $0.80 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal 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.