Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Cyrus J. Lawrence LLC

Cyrus J. Lawrence LLC lowered its stake in Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,283 shares of the network technology company’s stock after selling 45 shares during the period. Palo Alto Networks comprises 3.3% of Cyrus J. Lawrence LLC’s investment portfolio, making the stock its 8th biggest position. Cyrus J. Lawrence LLC’s holdings in Palo Alto Networks were worth $16,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new stake in shares of Palo Alto Networks during the 1st quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new stake in Palo Alto Networks during the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. boosted its position in shares of Palo Alto Networks by 3,200.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Ulland Investment Advisors LLC purchased a new position in shares of Palo Alto Networks in the 1st quarter valued at about $30,000. Finally, Central Bank & Trust Co. increased its holdings in shares of Palo Alto Networks by 89.3% in the 1st quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Price Performance

NASDAQ:PANW opened at $340.12 on Monday. Palo Alto Networks, Inc. has a 12 month low of $224.64 and a 12 month high of $380.84. The business’s 50-day moving average is $336.39 and its two-hundred day moving average is $313.57. The firm has a market capitalization of $110.13 billion, a PE ratio of 49.44, a price-to-earnings-growth ratio of 5.04 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion during 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 revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $0.80 EPS. Equities analysts anticipate that Palo Alto Networks, Inc. will post 3.55 EPS for the current year.

Insider Buying and Selling

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President William D. Jenkins, Jr. sold 1,475 shares of the company’s stock in a transaction that occurred 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 sale, the president now directly owns 19,026 shares of the company’s stock, valued at approximately $6,452,097.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction 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 directly owns 159,009 shares of the company’s stock, valued at approximately $54,854,924.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 464,075 shares of company stock worth $154,029,567. 3.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. DA Davidson upped their price target on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Oppenheimer lifted 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. BTIG Research upped their price objective on shares of Palo Alto Networks from $366.00 to $395.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $350.00 target price on shares of Palo Alto Networks in a research report on Monday, August 19th. Finally, BMO Capital Markets upped their target price on Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.