Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.1% during the third quarter, Holdings Channel reports. The firm owned 149,007 shares of the network technology company’s stock after selling 16,658 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Palo Alto Networks were worth $50,931,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in PANW. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks in the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC raised its position 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 valued at $26,000 after purchasing an additional 41 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 67 shares during the period. Strategic Investment Solutions Inc. IL increased its stake in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 55 shares during the period. Finally, Cape Investment Advisory Inc. raised its holdings in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after buying an additional 100 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PANW has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. 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. Oppenheimer boosted their price objective on shares of Palo Alto Networks from $410.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company raised their target price on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Scotiabank boosted their price target on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Eleven equities 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. According to data from MarketBeat.com, Palo Alto Networks currently has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Insider Activity

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now directly owns 159,009 shares in the company, valued at approximately $54,854,924.82. 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. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock valued at $89,383,077 in the last 90 days. 3.30% of the stock is currently owned by insiders.

Palo Alto Networks Stock Performance

Shares of NASDAQ PANW opened at $361.12 on Tuesday. The firm’s 50 day moving average price is $352.97 and its 200 day moving average price is $330.32. The firm has a market cap of $117.58 billion, a P/E ratio of 49.81, a price-to-earnings-growth ratio of 5.22 and a beta of 1.12. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data 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 business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts predict 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.