Aveo Capital Partners LLC Sells 37 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Aveo Capital Partners LLC reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 4.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 720 shares of the network technology company’s stock after selling 37 shares during the period. Aveo Capital Partners LLC’s holdings in Palo Alto Networks were worth $244,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Archer Investment Corp boosted its holdings in shares of Palo Alto Networks by 49.0% in the 2nd quarter. Archer Investment Corp now owns 286 shares of the network technology company’s stock valued at $97,000 after buying an additional 94 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Palo Alto Networks by 2.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 27,747 shares of the network technology company’s stock worth $9,407,000 after purchasing an additional 774 shares in the last quarter. Novare Capital Management LLC acquired a new stake in Palo Alto Networks in the 2nd quarter worth approximately $905,000. Magnus Financial Group LLC boosted its stake in Palo Alto Networks by 3.3% in the 2nd quarter. Magnus Financial Group LLC now owns 10,561 shares of the network technology company’s stock worth $3,580,000 after purchasing an additional 341 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC acquired a new stake in Palo Alto Networks in the 2nd quarter worth approximately $295,000. 79.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PANW. 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 note on Tuesday, August 20th. Evercore ISI lifted their target price on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Daiwa Capital Markets began coverage on shares of Palo Alto Networks in a research note on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 target price for the company. Finally, Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research note on Wednesday, May 29th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $364.08.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $346.15 on Thursday. The firm’s fifty day moving average price is $335.82 and its 200 day moving average price is $310.46. Palo Alto Networks, Inc. has a 1-year low of $224.64 and a 1-year high of $380.84. The firm has a market cap of $112.08 billion, a price-to-earnings ratio of 50.31, a price-to-earnings-growth ratio of 5.29 and a beta of 1.13.

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 analysts’ consensus estimates 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 analyst estimates of $2.16 billion. During the same period last year, the firm posted $0.80 EPS. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. As a group, analysts expect that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the sale, the director now owns 31,517 shares of the company’s stock, valued at $10,983,359.33. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.16, for a total value of $12,209,760.00. Following the completion of the sale, the executive vice president now directly owns 1,223,567 shares of the company’s stock, valued at approximately $414,984,983.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 339,572 shares of company stock valued at $111,126,265. 3.30% of the stock is owned by company insiders.

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.