Rakuten Securities Inc. Sells 720 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Rakuten Securities Inc. lessened its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 46.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 836 shares of the network technology company’s stock after selling 720 shares during the period. Rakuten Securities Inc.’s holdings in Palo Alto Networks were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pathway Financial Advisers LLC acquired a new position in shares of Palo Alto Networks during the first quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its position in Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares in the last quarter. Sound Income Strategies LLC raised its stake in Palo Alto Networks by 352.6% during 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 during the period. Strategic Investment Solutions Inc. IL boosted its holdings in 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 worth $29,000 after acquiring an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. boosted its holdings in Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Price Performance

Shares of PANW stock opened at $398.10 on Tuesday. The stock has a market capitalization of $129.62 billion, a price-to-earnings ratio of 54.91, a PEG ratio of 5.68 and a beta of 1.12. The company’s fifty day simple moving average is $355.84 and its two-hundred day simple moving average is $333.78. Palo Alto Networks, Inc. has a 1 year low of $234.15 and a 1 year high of $400.69.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data 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. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the subject of several recent research reports. KeyCorp boosted their price objective on Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, October 18th. DA Davidson upped their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Palo Alto Networks from $330.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Scotiabank upped their target price on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. raised their price target on shares of Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $378.87.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred 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 sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,252 shares of company stock valued at $89,383,077. 3.30% of the stock is currently owned by corporate insiders.

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.