Sienna Gestion Decreases Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Sienna Gestion trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 35.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 772 shares of the network technology company’s stock after selling 426 shares during the quarter. Sienna Gestion’s holdings in Palo Alto Networks were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PANW. Cascade Investment Group Inc. increased its holdings in shares of Palo Alto Networks by 2.9% during the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after acquiring an additional 31 shares in the last quarter. Sepio Capital LP increased its stake in Palo Alto Networks by 3.7% during the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock valued at $278,000 after purchasing an additional 34 shares in the last quarter. Sheets Smith Wealth Management raised its holdings in shares of Palo Alto Networks by 2.4% in the first quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after buying an additional 34 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in shares of Palo Alto Networks by 41.2% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the network technology company’s stock worth $35,000 after buying an additional 35 shares during the period. Finally, First County Bank CT grew its holdings in shares of Palo Alto Networks by 1.0% during the fourth quarter. First County Bank CT now owns 3,537 shares of the network technology company’s stock valued at $1,043,000 after buying an additional 35 shares during the last quarter. 79.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, President William D. Jenkins, Jr. sold 1,475 shares of Palo Alto Networks stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.12, for a total transaction of $500,202.00. Following the transaction, the president now owns 19,026 shares in the company, valued at approximately $6,452,097.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $339.16, for a total transaction of $12,209,760.00. Following the completion of the sale, the executive vice president now owns 1,223,567 shares of the company’s stock, valued at $414,984,983.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $339.12, for a total value of $500,202.00. Following the completion of the transaction, the president now directly owns 19,026 shares in the company, valued at approximately $6,452,097.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 464,075 shares of company stock valued at $154,029,567. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Stock Up 1.2 %

Palo Alto Networks stock opened at $333.60 on Friday. The company has a fifty day simple moving average of $336.32 and a 200-day simple moving average of $312.89. The firm has a market capitalization of $108.62 billion, a price-to-earnings ratio of 48.49, a PEG ratio of 5.03 and a beta of 1.13. Palo Alto Networks, Inc. has a 52-week low of $224.64 and a 52-week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company earned $0.80 EPS. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Daiwa Capital Markets started coverage on Palo Alto Networks in a research note on Wednesday, May 29th. They issued an “outperform” rating and a $350.00 target price for the company. Royal Bank of Canada raised their price objective on Palo Alto Networks from $390.00 to $410.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Citigroup upped their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Stifel Nicolaus raised their price target on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, DA Davidson lifted their price objective on shares of Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $366.08.

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.