Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Position Lessened by RiverPark Advisors LLC

RiverPark Advisors LLC decreased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 34.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 76 shares of the network technology company’s stock after selling 40 shares during the period. RiverPark Advisors LLC’s holdings in Palo Alto Networks were worth $26,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PANW. Capital Advisors Ltd. LLC raised its holdings in Palo Alto Networks by 113.9% during the third 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 in the last quarter. Sound Income Strategies LLC raised its stake in shares of Palo Alto Networks by 352.6% in the 3rd 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 in the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in shares of 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 buying an additional 55 shares during the period. Pathway Financial Advisers LLC bought a new position in Palo Alto Networks during the first quarter valued at about $25,000. Finally, First PREMIER Bank grew its holdings in Palo Alto Networks by 48.4% during the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock worth $32,000 after acquiring an additional 31 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks Stock Down 1.9 %

NASDAQ:PANW opened at $387.00 on Friday. The company’s 50 day moving average is $359.86 and its 200-day moving average is $336.39. The firm has a market cap of $126.01 billion, a price-to-earnings ratio of 53.38, a P/E/G ratio of 5.61 and a beta of 1.12. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $408.53.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm posted $0.80 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Research analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PANW. BTIG Research raised their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Cantor Fitzgerald raised Palo Alto Networks to a “strong-buy” rating in a report on Friday, November 1st. Citigroup raised their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Truist Financial boosted their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Susquehanna increased their price target on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $384.76.

Insider Buying and Selling

In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at $54,854,924.82. This represents a 27.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Pat Mccarthy sold 1,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total transaction of $341,440.00. Following the completion of the sale, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This trade represents a 2.35 % 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 valued at $89,383,077. Insiders own 2.50% of the company’s stock.

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.