Clarity Financial LLC Decreases Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Clarity Financial LLC reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 5.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 28,000 shares of the network technology company’s stock after selling 1,763 shares during the period. Clarity Financial LLC’s holdings in Palo Alto Networks were worth $9,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kathmere Capital Management LLC boosted its position in Palo Alto Networks by 3.4% in the 2nd quarter. Kathmere Capital Management LLC now owns 920 shares of the network technology company’s stock valued at $312,000 after buying an additional 30 shares during the last quarter. FLC Capital Advisors boosted its position in Palo Alto Networks by 0.7% in the 3rd quarter. FLC Capital Advisors now owns 4,035 shares of the network technology company’s stock valued at $1,379,000 after buying an additional 30 shares during the last quarter. Cromwell Holdings LLC boosted its position in Palo Alto Networks by 3.0% in the 3rd quarter. Cromwell Holdings LLC now owns 1,044 shares of the network technology company’s stock valued at $357,000 after buying an additional 30 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in Palo Alto Networks by 9.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 348 shares of the network technology company’s stock valued at $119,000 after buying an additional 30 shares during the last quarter. Finally, Cascade Investment Group Inc. boosted its position in Palo Alto Networks by 2.9% in the 2nd quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after buying an additional 31 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Palo Alto Networks

In related news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction on Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the completion of the sale, the director now owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the completion of the transaction, the executive vice president now owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total transaction of $341,440.00. Following the transaction, the director now directly owns 41,517 shares of the company’s stock, valued at approximately $14,175,564.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock valued at $89,383,077 in the last quarter. Company insiders own 2.50% of the company’s stock.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $361.12 on Tuesday. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00. The stock has a market cap of $117.58 billion, a price-to-earnings ratio of 49.81, a PEG ratio of 5.26 and a beta of 1.12. The firm’s 50 day moving average price is $352.97 and its two-hundred day moving average price is $330.32.

Palo Alto Networks (NASDAQ:PANW) last issued its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, research analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current fiscal year.

Analysts Set New Price Targets

PANW has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. UBS Group raised their target price on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of Palo Alto Networks in a report on Monday. Northland Securities lifted their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. Finally, Bank of America lifted their price target on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Eleven investment 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, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $378.49.

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.