Washburn Capital Management Inc. Has $1.54 Million Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Washburn Capital Management Inc. decreased its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 19.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,504 shares of the network technology company’s stock after selling 1,110 shares during the period. Palo Alto Networks comprises approximately 1.1% of Washburn Capital Management Inc.’s portfolio, making the stock its 15th largest holding. Washburn Capital Management Inc.’s holdings in Palo Alto Networks were worth $1,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PANW. Kathmere Capital Management LLC increased its position in Palo Alto Networks by 3.4% during the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after purchasing an additional 30 shares during the period. FLC Capital Advisors raised its stake in Palo Alto Networks by 0.7% during the third quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock worth $1,379,000 after buying an additional 30 shares during the last quarter. Cromwell Holdings LLC lifted its holdings in Palo Alto Networks by 3.0% in the third quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after buying an additional 30 shares during the period. Cascade Investment Group Inc. grew its holdings in Palo Alto Networks by 2.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock worth $376,000 after acquiring an additional 31 shares during the period. Finally, Herbst Group LLC raised its position in shares of Palo Alto Networks by 0.3% in the 3rd quarter. Herbst Group LLC now owns 9,692 shares of the network technology company’s stock worth $3,313,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Activity at Palo Alto Networks

In other news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,187,567 shares of the company’s stock, valued at $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the business’s 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 351,452 shares of company stock worth $118,643,279. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Rosenblatt Securities upped their target price on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Evercore ISI increased their price target on Palo Alto Networks from $385.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Stifel Nicolaus lifted their price objective on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Finally, Royal Bank of Canada lifted their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $376.82.

Palo Alto Networks Stock Down 0.6 %

PANW traded down $2.31 during trading hours on Monday, hitting $364.13. The stock had a trading volume of 304,208 shares, compared to its average volume of 3,965,916. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00. The company’s fifty day simple moving average is $351.91 and its 200 day simple moving average is $326.78. The stock has a market cap of $117.91 billion, a PE ratio of 53.51, a price-to-earnings-growth ratio of 5.45 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company earned $0.80 earnings per share. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.57 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.