TimesSquare Capital Management LLC Sells 93,540 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

TimesSquare Capital Management LLC lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW - Free Report) by 90.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,560 shares of the network technology company's stock after selling 93,540 shares during the period. TimesSquare Capital Management LLC's holdings in Palo Alto Networks were worth $1,740,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Capital Advisors Ltd. LLC increased its position in shares of Palo Alto Networks by 113.9% in the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company's stock worth $26,000 after purchasing an additional 41 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Palo Alto Networks in the third quarter valued at about $29,000. Strategic Investment Solutions Inc. IL boosted its stake in Palo Alto Networks by 177.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company's stock valued at $29,000 after buying an additional 55 shares in the last quarter. True Wealth Design LLC boosted its stake in Palo Alto Networks by 2,933.3% in the third quarter. True Wealth Design LLC now owns 91 shares of the network technology company's stock valued at $31,000 after buying an additional 88 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in Palo Alto Networks in the third quarter valued at about $32,000. Institutional investors own 79.82% of the company's stock.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 99,707 shares of Palo Alto Networks stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the transaction, the executive vice president now directly owns 358,197 shares in the company, valued at approximately $65,353,042.65. The trade was a 21.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 336,000 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $193.70, for a total value of $65,081,520.00. Following the sale, the executive vice president now directly owns 3,643,516 shares in the company, valued at approximately $705,730,831.62. This represents a 8.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,458,864 shares of company stock worth $269,397,331 in the last ninety days. Insiders own 2.50% of the company's stock.

Palo Alto Networks Trading Down 4.0 %

PANW traded down $7.94 during trading on Friday, hitting $190.87. 3,317,805 shares of the company's stock traded hands, compared to its average volume of 6,309,446. The company's 50 day simple moving average is $187.20 and its two-hundred day simple moving average is $182.95. Palo Alto Networks, Inc. has a 12-month low of $132.50 and a 12-month high of $208.39. The stock has a market capitalization of $126.38 billion, a price-to-earnings ratio of 107.54, a PEG ratio of 5.82 and a beta of 1.14.

Palo Alto Networks (NASDAQ:PANW - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.06. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, equities analysts expect that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

PANW has been the topic of several research analyst reports. Robert W. Baird raised their price objective on Palo Alto Networks from $212.50 to $217.50 and gave the company an "outperform" rating in a research note on Thursday, November 21st. HSBC downgraded Palo Alto Networks from a "hold" rating to a "reduce" rating and lowered their price objective for the stock from $152.00 to $145.50 in a research report on Friday, November 22nd. Rosenblatt Securities lifted their target price on Palo Alto Networks from $212.50 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. TD Cowen lifted their target price on Palo Alto Networks from $200.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Finally, Westpark Capital reiterated a "hold" rating and issued a $196.40 target price on shares of Palo Alto Networks in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $202.70.

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.