Sequoia Financial Advisors LLC Has $47.61 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sequoia Financial Advisors LLC lowered its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.6% during the third quarter, HoldingsChannel.com reports. The firm owned 139,279 shares of the network technology company’s stock after selling 25,823 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Palo Alto Networks were worth $47,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock valued at $8,118,190,000 after purchasing an additional 1,002,239 shares during the last quarter. Swedbank AB bought a new position in Palo Alto Networks during the first quarter valued at about $177,933,000. Altshuler Shaham Ltd lifted its position in shares of Palo Alto Networks by 444,100.0% in the second quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock worth $150,520,000 after buying an additional 444,100 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after acquiring an additional 255,060 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock valued at $799,792,000 after acquiring an additional 198,078 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Trading Down 1.0 %

NASDAQ PANW traded down $3.61 during trading hours on Tuesday, reaching $374.80. 510,448 shares of the company’s stock were exchanged, compared to its average volume of 4,009,804. The firm has a fifty day moving average of $349.61 and a 200-day moving average of $324.19. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $384.00. The stock has a market cap of $121.36 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping 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 company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts forecast that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the subject of a number of recent analyst reports. 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 report on Tuesday, August 20th. Barclays raised their target price on shares of Palo Alto Networks from $370.00 to $410.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stifel Nicolaus boosted 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 report on Tuesday, August 20th. The Goldman Sachs Group raised their price target on Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Needham & Company LLC boosted their price objective on Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $376.82.

Insiders Place Their Bets

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at $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 is available through this link. Also, EVP Lee Klarich sold 60,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the transaction, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 351,452 shares of company stock valued at $118,643,279. Insiders own 3.30% of the company’s stock.

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.