Palo Alto Networks, Inc. (NASDAQ:PANW) Stock Holdings Lessened by InTrack Investment Management Inc

InTrack Investment Management Inc decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 9.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,701 shares of the network technology company's stock after selling 1,583 shares during the period. Palo Alto Networks accounts for about 3.8% of InTrack Investment Management Inc's portfolio, making the stock its 4th biggest position. InTrack Investment Management Inc's holdings in Palo Alto Networks were worth $5,367,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in Palo Alto Networks in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. increased its holdings in shares of Palo Alto Networks by 3,200.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company's stock worth $28,000 after buying an additional 96 shares during the period. Central Bank & Trust Co. lifted its position in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company's stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Cape Investment Advisory Inc. boosted its position in 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 valued at $31,000 after buying an additional 100 shares during the period. Finally, New England Capital Financial Advisors LLC grew its stake in shares of Palo Alto Networks by 833.3% in the first quarter. New England Capital Financial Advisors LLC now owns 112 shares of the network technology company's stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PANW shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $350.00 target price on shares of Palo Alto Networks in a research report on Monday, August 19th. BNP Paribas began coverage on shares of Palo Alto Networks in a report on Tuesday, October 8th. They set an "outperform" rating and a $410.00 target price on the stock. Oppenheimer increased their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 20th. Morgan Stanley lifted their price target on shares of Palo Alto Networks from $390.00 to $421.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Evercore ISI upped their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the stock an "outperform" rating in a report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $372.28.

Insider Transactions at Palo Alto Networks

In related news, CEO Nikesh Arora sold 66,666 shares of the company's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the transaction, the chief executive officer now directly owns 639,994 shares of the company's stock, valued at $219,505,142.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the business's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 66,666 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $342.98, for a total transaction of $22,865,104.68. Following the completion of the transaction, the chief executive officer now owns 639,994 shares in the company, valued at approximately $219,505,142.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 269,866 shares of company stock valued at $88,620,447 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Up 1.0 %

Palo Alto Networks stock traded up $3.80 during midday trading on Friday, reaching $373.20. The stock had a trading volume of 2,298,019 shares, compared to its average volume of 4,081,229. The company has a fifty day moving average of $342.20 and a 200 day moving average of $319.73. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $380.84. The firm has a market cap of $120.84 billion, a price-to-earnings ratio of 54.24, a price-to-earnings-growth ratio of 5.26 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last issued its quarterly earnings data 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. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm posted $0.80 earnings per share. Palo Alto Networks's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts predict that Palo Alto Networks, Inc. will post 3.56 EPS 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.