Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Cut by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,750 shares of the network technology company’s stock after selling 373 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Palo Alto Networks were worth $19,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PANW. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks during the 1st quarter worth $25,000. Capital Advisors Ltd. LLC boosted its stake in shares of Palo Alto Networks by 113.9% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of 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 acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in shares of Palo Alto Networks by 177.4% during the 3rd 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 stake 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 acquiring an additional 100 shares in the last quarter. 79.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the sale, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,252 shares of company stock valued at $89,383,077 over the last three months. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Trading Up 0.5 %

PANW stock traded up $1.98 during trading on Wednesday, reaching $400.00. 171,860 shares of the stock were exchanged, compared to its average volume of 3,855,782. Palo Alto Networks, Inc. has a twelve month low of $234.15 and a twelve month high of $402.50. The company has a market capitalization of $130.24 billion, a P/E ratio of 54.90, a price-to-earnings-growth ratio of 5.77 and a beta of 1.12. The stock has a 50 day simple moving average of $356.70 and a 200-day simple moving average of $334.54.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share 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 the consensus estimate of $2.16 billion. During the same period last year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PANW shares. Susquehanna raised their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the stock a “positive” rating in a research note on Thursday, September 5th. Scotiabank raised their target price on Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. Rosenblatt Securities raised their target price on Palo Alto Networks from $300.00 to $345.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. The Goldman Sachs Group raised their target price on Palo Alto Networks from $376.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Finally, OTR Global reaffirmed a “negative” rating on shares of Palo Alto Networks in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $378.87.

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.