Mutual of America Capital Management LLC Decreases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mutual of America Capital Management LLC cut its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,010 shares of the network technology company’s stock after selling 572 shares during the period. Mutual of America Capital Management LLC’s holdings in Palo Alto Networks were worth $14,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks during the first quarter valued at approximately $25,000. Frank Rimerman Advisors LLC purchased a new stake in Palo Alto Networks during the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Palo Alto Networks by 3,200.0% in the first 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 during the period. Ulland Investment Advisors LLC purchased a new stake in shares of Palo Alto Networks in the first quarter worth approximately $30,000. Finally, Central Bank & Trust Co. raised its holdings in shares of Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after buying an additional 50 shares during the period. 79.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Palo Alto Networks news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the completion of the sale, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 464,075 shares of company stock valued at $154,029,567. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Stock Down 2.4 %

Shares of PANW stock opened at $337.93 on Wednesday. The stock has a market cap of $110.03 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 5.03 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84. The business has a 50-day simple moving average of $336.41 and a 200-day simple moving average of $312.63.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PANW shares. The Goldman Sachs Group increased their price target on Palo Alto Networks from $330.00 to $376.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. BMO Capital Markets increased their price target on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Sanford C. Bernstein increased their price target on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft increased their price target on Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Macquarie raised their price objective on Palo Alto Networks from $270.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $366.08.

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.