Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Verus Capital Partners LLC

Verus Capital Partners LLC reduced its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,542 shares of the network technology company’s stock after selling 45 shares during the quarter. Verus Capital Partners LLC’s holdings in Palo Alto Networks were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PANW. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks during the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC grew its position in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after purchasing an additional 41 shares during the period. Sound Income Strategies LLC lifted its position in 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 buying an additional 67 shares during the period. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 177.4% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insider Activity

In related news, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the transaction, the director now owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 completion of the transaction, 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 filing with the SEC, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction dated Monday, August 19th. The stock was 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 in the company, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,252 shares of company stock valued at $89,383,077. Company insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 1.7 %

Shares of NASDAQ:PANW opened at $398.10 on Tuesday. The company’s 50-day moving average price is $355.84 and its 200 day moving average price is $333.78. The company has a market cap of $129.62 billion, a PE ratio of 54.91, a P/E/G ratio of 5.68 and a beta of 1.12. Palo Alto Networks, Inc. has a fifty-two week low of $234.15 and a fifty-two week high of $400.69.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion for 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 business’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 company posted $0.80 earnings per share. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PANW shares. OTR Global restated a “negative” rating on shares of Palo Alto Networks in a report on Thursday, November 7th. DA Davidson boosted their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Stifel Nicolaus increased their target price 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. Scotiabank boosted their price target on Palo Alto Networks from $385.00 to $400.00 and gave the company a “sector outperform” rating in a research report on Tuesday, August 20th. Finally, Sanford C. Bernstein raised their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.87.

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.