Horan Capital Advisors LLC. Sells 48 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Horan Capital Advisors LLC. trimmed its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,429 shares of the network technology company’s stock after selling 48 shares during the quarter. Horan Capital Advisors LLC.’s holdings in Palo Alto Networks were worth $2,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PANW. Pathway Financial Advisers LLC bought a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new position in shares of Palo Alto Networks during the 4th quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares during the period. Ulland Investment Advisors LLC bought a new position in shares of Palo Alto Networks during the 1st quarter worth approximately $30,000. Finally, Central Bank & Trust Co. lifted its holdings in Palo Alto Networks by 89.3% during the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President William D. Jenkins, Jr. sold 1,475 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $339.12, for a total value of $500,202.00. Following the transaction, the president now directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The disclosure for this sale can be found here. Insiders have sold 464,075 shares of company stock valued at $154,029,567 in the last ninety days. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Trading Down 2.3 %

NASDAQ PANW opened at $335.82 on Monday. The business’s 50-day moving average price is $335.82 and its two-hundred day moving average price is $310.43. Palo Alto Networks, Inc. has a 12 month low of $224.64 and a 12 month high of $380.84. The firm has a market capitalization of $108.74 billion, a PE ratio of 48.81, a price-to-earnings-growth ratio of 4.89 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue was up 12.1% on a year-over-year basis. As a group, analysts forecast that Palo Alto Networks, Inc. will post 3.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PANW has been the subject of several research reports. Redburn Atlantic cut Palo Alto Networks from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $350.00 to $325.00 in a report on Thursday, July 18th. Royal Bank of Canada lifted their price target on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a report on Tuesday, August 20th. Daiwa America raised Palo Alto Networks to a “strong-buy” rating in a report on Wednesday, May 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of Palo Alto Networks in a report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $366.08.

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.