Barden Capital Management Inc. Sells 3,404 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Barden Capital Management Inc. decreased its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 49.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,498 shares of the network technology company’s stock after selling 3,404 shares during the quarter. Barden Capital Management Inc.’s holdings in Palo Alto Networks were worth $1,196,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PANW. Koss Olinger Consulting LLC acquired a new stake in shares of Palo Alto Networks in the third quarter valued at approximately $202,000. Calton & Associates Inc. boosted its holdings in Palo Alto Networks by 2,442.4% during the third quarter. Calton & Associates Inc. now owns 17,466 shares of the network technology company’s stock worth $5,970,000 after buying an additional 16,779 shares during the last quarter. McClarren Financial Advisors Inc. grew its holdings in Palo Alto Networks by 31.6% during the third quarter. McClarren Financial Advisors Inc. now owns 446 shares of the network technology company’s stock valued at $152,000 after purchasing an additional 107 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Palo Alto Networks by 7.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 245,439 shares of the network technology company’s stock worth $83,891,000 after purchasing an additional 17,008 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in Palo Alto Networks by 30.0% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 1,560 shares of the network technology company’s stock worth $533,000 after acquiring an additional 360 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Transactions at Palo Alto Networks

In related news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $317.77, for a total value of $11,439,720.00. Following the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value 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 approximately $377,373,165.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total value of $22,865,104.68. Following the transaction, the chief executive officer now owns 639,994 shares in the company, valued at $219,505,142.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 351,452 shares of company stock worth $118,643,279. Company insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PANW shares. Scotiabank lifted their price target on shares of Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday, August 20th. Northland Securities raised their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a research note on Tuesday, August 20th. Citigroup lifted their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Wells Fargo & Company increased their price target on Palo Alto Networks from $385.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Palo Alto Networks has a consensus rating of “Moderate Buy” and an average target price of $375.79.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $374.83 on Monday. The firm’s 50 day simple moving average is $348.67 and its 200 day simple moving average is $323.39. The company has a market cap of $121.37 billion, a PE ratio of 54.48, a P/E/G ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $2.16 billion. During the same period last year, the company earned $0.80 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

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.