Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. reduced its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 12.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,522 shares of the network technology company’s stock after selling 226 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Palo Alto Networks were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mather Group LLC. grew its holdings in Palo Alto Networks by 4.8% during the 4th quarter. Mather Group LLC. now owns 1,759 shares of the network technology company’s stock valued at $519,000 after buying an additional 81 shares during the last quarter. Choreo LLC raised its stake in Palo Alto Networks by 30.9% in the 4th quarter. Choreo LLC now owns 1,976 shares of the network technology company’s stock valued at $583,000 after purchasing an additional 466 shares during the last quarter. Norden Group LLC purchased a new position in Palo Alto Networks in the 4th quarter valued at about $274,000. Mission Wealth Management LP boosted its stake in shares of Palo Alto Networks by 6.3% during the 4th quarter. Mission Wealth Management LP now owns 2,977 shares of the network technology company’s stock worth $878,000 after purchasing an additional 176 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Palo Alto Networks by 19.1% during the fourth quarter. Victory Capital Management Inc. now owns 519,291 shares of the network technology company’s stock worth $153,129,000 after buying an additional 83,383 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling

In related news, Director John P. Key sold 2,163 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $305.41, for a total transaction of $660,601.83. Following the completion of the transaction, the director now directly owns 12,639 shares in the company, valued at approximately $3,860,076.99. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Josh D. Paul sold 200 shares of the business’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 transaction of $67,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,982 shares in the company, valued at $8,443,916. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John P. Key sold 2,163 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $305.41, for a total value of $660,601.83. Following the completion of the transaction, the director now directly owns 12,639 shares of the company’s stock, valued at $3,860,076.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 376,372 shares of company stock valued at $121,925,593. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PANW. Robert W. Baird upped their price objective on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Sanford C. Bernstein lifted their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Needham & Company LLC increased their target price on Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Redburn Atlantic cut Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Finally, Wells Fargo & Company increased their price objective on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $364.08.

Palo Alto Networks Price Performance

NASDAQ:PANW traded up $4.51 during mid-day trading on Friday, reaching $362.72. The stock had a trading volume of 2,988,576 shares, compared to its average volume of 3,892,995. The company has a market capitalization of $117.45 billion, a price-to-earnings ratio of 52.72, a price-to-earnings-growth ratio of 4.82 and a beta of 1.14. Palo Alto Networks, Inc. has a 1-year low of $224.64 and a 1-year high of $380.84. The stock’s 50 day simple moving average is $333.84 and its two-hundred day simple moving average is $310.72.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. Sell-side analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS 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.