Nicollet Investment Management Inc. Has $5.39 Million Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Nicollet Investment Management Inc. cut its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 2.6% during the second quarter, HoldingsChannel.com reports. The firm owned 15,907 shares of the network technology company’s stock after selling 430 shares during the quarter. Palo Alto Networks makes up 2.0% of Nicollet Investment Management Inc.’s portfolio, making the stock its 17th biggest position. Nicollet Investment Management Inc.’s holdings in Palo Alto Networks were worth $5,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Aveo Capital Partners LLC acquired a new stake in shares of Palo Alto Networks during the fourth quarter worth $212,000. Gryphon Financial Partners LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth about $336,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Palo Alto Networks by 21.6% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 2,231 shares of the network technology company’s stock valued at $658,000 after acquiring an additional 396 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Palo Alto Networks by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 542,108 shares of the network technology company’s stock valued at $159,861,000 after acquiring an additional 31,718 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its position in shares of Palo Alto Networks by 24.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,148 shares of the network technology company’s stock valued at $339,000 after acquiring an additional 222 shares during the period. Institutional investors own 79.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PANW. Stifel Nicolaus upped their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Redburn Atlantic cut shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $350.00 to $325.00 in a research report on Thursday, July 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $350.00 price objective on shares of Palo Alto Networks in a research note on Monday, August 19th. Bank of America boosted their target price on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group raised their price target on Palo Alto Networks from $330.00 to $376.00 and gave the stock a “buy” rating in a research 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 given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.08.

Insider Activity at Palo Alto Networks

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

Palo Alto Networks Trading Up 1.0 %

Shares of NASDAQ PANW opened at $347.58 on Wednesday. The firm has a fifty day simple moving average of $336.02 and a two-hundred day simple moving average of $311.42. The firm has a market capitalization of $112.55 billion, a PE ratio of 50.52, a price-to-earnings-growth ratio of 4.89 and a beta of 1.13. Palo Alto Networks, Inc. has a 12 month low of $224.64 and a 12 month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data 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 business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business posted $0.80 earnings per share. Palo Alto Networks’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.55 earnings per share 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.