Jackson Square Capital LLC Sells 101 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Jackson Square Capital LLC reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,088 shares of the network technology company’s stock after selling 101 shares during the quarter. Jackson Square Capital LLC’s holdings in Palo Alto Networks were worth $372,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PANW. International Assets Investment Management LLC grew its stake in shares of Palo Alto Networks by 34,318.2% in 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 purchasing an additional 3,249,594 shares during the period. Vanguard Group Inc. grew 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 period. Swedbank AB bought a new stake in shares of Palo Alto Networks in the 1st quarter valued at approximately $177,933,000. Altshuler Shaham Ltd grew its stake in shares of Palo Alto Networks by 444,100.0% in the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after purchasing an additional 444,100 shares during the period. Finally, Congress Asset Management Co. bought a new stake in shares of Palo Alto Networks in the 3rd quarter valued at approximately $94,875,000. 79.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the 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 completion of the transaction, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the transaction, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 255,252 shares of company stock worth $89,383,077. Corporate insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on PANW shares. BNP Paribas started coverage on Palo Alto Networks in a research report on Tuesday, October 8th. They set an “outperform” rating and a $410.00 price target on the stock. Northland Securities increased their price target on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. Stifel Nicolaus increased their price target on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Cantor Fitzgerald upgraded Palo Alto Networks to a “strong-buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets increased their price target on Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus price target of $378.49.

Palo Alto Networks Trading Up 5.2 %

PANW stock opened at $385.18 on Thursday. The stock has a 50-day moving average price of $353.98 and a two-hundred day moving average price of $331.32. The stock has a market cap of $125.41 billion, a PE ratio of 53.13, a price-to-earnings-growth ratio of 5.23 and a beta of 1.12. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $386.20.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results 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. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, analysts forecast that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

Palo Alto Networks 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.