Whalen Wealth Management Inc. Trims Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Whalen Wealth Management Inc. lowered its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 13.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,099 shares of the network technology company’s stock after selling 338 shares during the quarter. Whalen Wealth Management Inc.’s holdings in Palo Alto Networks were worth $717,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC increased its holdings in shares of Palo Alto Networks by 12.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 25,490 shares of the network technology company’s stock worth $7,243,000 after buying an additional 2,748 shares during the last quarter. Lake Street Advisors Group LLC raised its position in Palo Alto Networks by 64.4% during the first quarter. Lake Street Advisors Group LLC now owns 2,530 shares of the network technology company’s stock valued at $719,000 after purchasing an additional 991 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Palo Alto Networks during the first quarter valued at about $536,000. InterOcean Capital Group LLC boosted its holdings in shares of Palo Alto Networks by 7.1% in the 1st quarter. InterOcean Capital Group LLC now owns 1,425 shares of the network technology company’s stock worth $405,000 after purchasing an additional 94 shares in the last quarter. Finally, Natixis raised its holdings in shares of Palo Alto Networks by 82.3% during the 1st quarter. Natixis now owns 31,747 shares of the network technology company’s stock valued at $9,020,000 after buying an additional 14,328 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Stock Down 0.0 %

Shares of PANW stock opened at $386.83 on Tuesday. The company has a 50 day moving average price of $360.72 and a 200-day moving average price of $337.38. Palo Alto Networks, Inc. has a 52 week low of $249.56 and a 52 week high of $408.53. The firm has a market capitalization of $125.95 billion, a PE ratio of 53.36, a P/E/G ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted its earnings results 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. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate 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 revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Analysts anticipate that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

Insider Activity at Palo Alto Networks

In other news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. The trade was a 11.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the completion of the transaction, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. This represents a 24.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,252 shares of company stock worth $89,041,637. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

PANW has been the topic of a number of recent research reports. Susquehanna increased their price target on shares of Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. Needham & Company LLC increased their target price on shares of Palo Alto Networks from $345.00 to $385.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Stifel Nicolaus raised their price objective on Palo Alto Networks from $385.00 to $440.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Oppenheimer increased their target price on Palo Alto Networks from $410.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. 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 company’s stock. According to MarketBeat.com, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $390.39.

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.