DekaBank Deutsche Girozentrale Sells 4,388 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

DekaBank Deutsche Girozentrale cut its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 352,731 shares of the network technology company’s stock after selling 4,388 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.11% of Palo Alto Networks worth $121,451,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks in the first quarter valued at $25,000. Frank Rimerman Advisors LLC purchased a new position in shares of Palo Alto Networks in the 4th quarter worth $27,000. Financial Synergies Wealth Advisors Inc. grew its stake in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after buying an additional 96 shares in the last quarter. Ulland Investment Advisors LLC purchased a new stake in shares of Palo Alto Networks during the 1st quarter valued at about $30,000. Finally, Central Bank & Trust Co. raised its position in shares of Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

PANW has been the topic of several analyst reports. Robert W. Baird boosted their price objective on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Needham & Company LLC increased their price target on Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Morgan Stanley raised their price target on Palo Alto Networks from $360.00 to $390.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Westpark Capital reiterated a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Finally, Redburn Atlantic lowered shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $350.00 to $325.00 in a report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $366.08.

Insider Buying and Selling

In other news, CEO Nikesh Arora sold 66,666 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the sale, the chief executive officer now directly owns 639,994 shares of the company’s stock, valued at $219,505,142.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares of the company’s stock, valued at approximately $10,983,359.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nikesh Arora sold 66,666 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the sale, the chief executive officer now owns 639,994 shares of the company’s stock, valued at $219,505,142.12. The disclosure for this sale can be found here. Insiders sold 464,075 shares of company stock worth $154,029,567 in the last three months. Corporate insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 1.0 %

Shares of PANW stock opened at $345.16 on Friday. The company has a market cap of $112.38 billion, a PE ratio of 50.17, a PEG ratio of 4.98 and a beta of 1.13. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84. The business’s fifty day simple moving average is $336.11 and its 200-day simple moving average is $311.87.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 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 company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business posted $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current year.

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.