Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,408 shares of the network technology company's stock after selling 4,389 shares during the period. Palo Alto Networks comprises approximately 1.9% of Stonegate Investment Group LLC's portfolio, making the stock its 17th largest position. Stonegate Investment Group LLC owned approximately 0.07% of Palo Alto Networks worth $73,968,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PANW. Vanguard Group Inc. lifted its holdings in shares of Palo Alto Networks by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company's stock valued at $8,118,190,000 after buying an additional 1,002,239 shares during the period. Legal & General Group Plc boosted its position in shares of Palo Alto Networks by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 3,243,457 shares of the network technology company's stock worth $1,099,564,000 after purchasing an additional 255,060 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Palo Alto Networks by 7.6% during the 1st quarter. Jennison Associates LLC now owns 2,814,881 shares of the network technology company's stock worth $799,792,000 after purchasing an additional 198,078 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Palo Alto Networks by 5.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,233,918 shares of the network technology company's stock worth $757,321,000 after purchasing an additional 114,742 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in shares of Palo Alto Networks by 8.0% in the 2nd quarter. William Blair Investment Management LLC now owns 1,000,511 shares of the network technology company's stock valued at $339,183,000 after purchasing an additional 73,922 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Palo Alto Networks from $330.00 to $395.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Stifel Nicolaus raised their price objective on Palo Alto Networks from $360.00 to $385.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. Susquehanna boosted their target price on Palo Alto Networks from $340.00 to $420.00 and gave the stock a "positive" rating in a research report on Thursday, September 5th. Evercore ISI upped their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company an "outperform" rating in a report on Tuesday, August 20th. Finally, UBS Group boosted their price objective on shares of Palo Alto Networks from $345.00 to $355.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $374.15.

Insider Buying and Selling at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.77, for a total value of $11,439,720.00. Following the completion of the transaction, the executive vice president now owns 1,187,567 shares in the company, valued at approximately $377,373,165.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the business's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares of the company's stock, valued at $47,055,533.37. This trade represents 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 351,452 shares of company stock valued at $118,643,279 in the last three months. Corporate insiders own 3.30% of the company's stock.

Palo Alto Networks Stock Performance

Shares of PANW stock traded down $1.32 during trading hours on Friday, reaching $374.83. The company had a trading volume of 1,449,505 shares, compared to its average volume of 2,382,185. The company has a market capitalization of $122.04 billion, a P/E ratio of 51.70, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $380.84. The stock's fifty day simple moving average is $348.67 and its 200 day simple moving average is $322.67.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last posted its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating 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 business's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 earnings per share. As a group, equities analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current year.

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.