Klingenstein Fields & Co. LP Decreases Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Klingenstein Fields & Co. LP trimmed its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 238,066 shares of the network technology company’s stock after selling 484 shares during the period. Palo Alto Networks comprises about 3.2% of Klingenstein Fields & Co. LP’s investment portfolio, making the stock its 6th biggest position. Klingenstein Fields & Co. LP’s holdings in Palo Alto Networks were worth $81,371,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Capital Advisors Ltd. LLC boosted its stake in Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC boosted its position in shares of Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its stake in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after acquiring an additional 55 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks in the 1st quarter valued at $25,000. Finally, First PREMIER Bank lifted its stake in Palo Alto Networks by 48.4% in the 3rd quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Palo Alto Networks news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 255,252 shares of company stock valued at $89,383,077. Corporate insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

PANW has been the subject of a number of research analyst reports. Rosenblatt Securities raised their price objective 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. Redburn Atlantic cut Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Oppenheimer increased their target price on Palo Alto Networks from $410.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Stifel Nicolaus upped their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $378.49.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $361.01 on Monday. The company’s 50-day simple moving average is $352.69 and its two-hundred day simple moving average is $329.75. Palo Alto Networks, Inc. has a one year low of $233.81 and a one year high of $384.00. The company has a market capitalization of $117.54 billion, a price-to-earnings ratio of 50.02, a price-to-earnings-growth ratio of 5.22 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS 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 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%. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Equities analysts expect that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal 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.