Mcdaniel Terry & Co. Lowers Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Mcdaniel Terry & Co. reduced its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 15.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 819 shares of the network technology company’s stock after selling 149 shares during the period. Mcdaniel Terry & Co.’s holdings in Palo Alto Networks were worth $280,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Palo Alto Networks by 3.6% during 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 acquiring an additional 1,002,239 shares during the period. International Assets Investment Management LLC lifted its position in Palo Alto Networks by 34,318.2% during the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after acquiring an additional 3,249,594 shares during the period. Legal & General Group Plc raised its holdings in Palo Alto Networks by 8.5% in the second quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company’s stock worth $1,099,564,000 after buying an additional 255,060 shares during the last quarter. Jennison Associates LLC raised its holdings in Palo Alto Networks by 7.6% in the first quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company’s stock worth $799,792,000 after buying an additional 198,078 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Palo Alto Networks by 5.4% in the second quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company’s stock worth $757,321,000 after buying an additional 114,742 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks Stock Performance

PANW stock opened at $364.58 on Friday. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $384.00. The company has a 50 day moving average price of $350.84 and a two-hundred day moving average price of $325.17. The stock has a market capitalization of $118.71 billion, a P/E ratio of 50.29, a PEG ratio of 5.45 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced 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. 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 during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company earned $0.80 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. Research analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PANW. KeyCorp lifted their target price on shares of Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $350.00 target price on shares of Palo Alto Networks in a report on Monday, August 19th. Susquehanna boosted their price objective on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a report on Thursday, September 5th. BMO Capital Markets boosted their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Evercore ISI boosted their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Eleven investment 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. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average price target of $376.82.

Insider Activity

In other news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the sale, the chief accounting officer now owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the transaction, the chief accounting officer now owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. This trade represents a 0.00 % decrease in their position. 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. 3.30% of the stock is currently owned by corporate insiders.

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.