Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 7.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,119 shares of the network technology company’s stock after selling 86 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Palo Alto Networks were worth $382,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks during the 1st quarter worth about $25,000. Capital Advisors Ltd. LLC boosted its holdings in Palo Alto Networks by 113.9% in the third 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 in the last quarter. Sound Income Strategies LLC increased its stake in Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. lifted its position in shares of Palo Alto Networks by 1,111.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Buying and Selling at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now directly owns 41,517 shares in the company, valued at $14,175,564.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mary Pat Mccarthy sold 1,000 shares of Palo Alto Networks stock in a transaction dated 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 in the company, valued at $14,175,564.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,252 shares of company stock worth $89,383,077. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on PANW shares. Oppenheimer lifted their price target on shares of Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Susquehanna boosted their target price on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a report on Thursday, September 5th. UBS Group raised their price target on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Citigroup boosted their price objective on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, DA Davidson lifted their target price on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks currently has an average rating of “Moderate Buy” and a consensus target price of $378.49.

Palo Alto Networks Trading Down 1.7 %

Shares of NASDAQ:PANW traded down $6.50 during midday trading on Thursday, hitting $378.68. 434,521 shares of the stock were exchanged, compared to its average volume of 3,891,850. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $386.20. The company has a 50 day moving average price of $353.98 and a 200-day moving average price of $331.32. The stock has a market cap of $123.30 billion, a P/E ratio of 53.13, a PEG ratio of 5.23 and a beta of 1.12.

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

About Palo Alto Networks

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.