Horan Capital Advisors LLC. Cuts Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Horan Capital Advisors LLC. lowered its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,389 shares of the network technology company’s stock after selling 40 shares during the quarter. Horan Capital Advisors LLC.’s holdings in Palo Alto Networks were worth $2,184,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new position in shares of Palo Alto Networks during the 1st quarter valued at approximately $25,000. Capital Advisors Ltd. LLC increased its holdings 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 worth $26,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC raised its position in Palo Alto Networks by 352.6% during the third 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 during the period. Strategic Investment Solutions Inc. IL lifted 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 valued at $29,000 after purchasing an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. grew its position in shares of 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 valued at $31,000 after purchasing an additional 100 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’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 value of $30,022,832.14. Following the sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at $227,680,932.85. This trade represents a 11.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This represents a 27.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,252 shares of company stock valued at $89,041,637. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on PANW shares. Bank of America upped their price target on shares of Palo Alto Networks from $370.00 to $400.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. DA Davidson raised their target price on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. BTIG Research lifted their price target on Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Rosenblatt Securities increased their price objective on Palo Alto Networks from $345.00 to $390.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Needham & Company LLC lifted their target price on shares of Palo Alto Networks from $345.00 to $385.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $390.39.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $386.83 on Tuesday. The firm’s 50-day moving average is $360.72 and its two-hundred day moving average is $337.38. Palo Alto Networks, Inc. has a 1 year low of $249.56 and a 1 year high of $408.53. The firm has a market capitalization of $125.95 billion, a PE ratio of 53.36, a price-to-earnings-growth ratio of 5.61 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last released 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 for 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 firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. Analysts expect that Palo Alto Networks, Inc. will post 3.56 EPS for the current fiscal year.

Palo Alto Networks 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.