Amalgamated Bank Sells 647 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

by · The Cerbat Gem

Amalgamated Bank lowered its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,706 shares of the network technology company’s stock after selling 647 shares during the quarter. Amalgamated Bank’s holdings in Palo Alto Networks were worth $23,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PANW. Pathway Financial Advisers LLC bought a new stake in Palo Alto Networks in the first quarter valued at about $25,000. Capital Advisors Ltd. LLC grew its stake in Palo Alto Networks by 113.9% during the third quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock worth $26,000 after buying an additional 41 shares during the last quarter. Sound Income Strategies LLC grew its stake in Palo Alto Networks by 352.6% during the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 67 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its stake in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its stake in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.

Palo Alto Networks Trading Down 0.4 %

Palo Alto Networks stock opened at $361.12 on Tuesday. The company has a market cap of $117.58 billion, a P/E ratio of 49.81, a price-to-earnings-growth ratio of 5.26 and a beta of 1.12. Palo Alto Networks, Inc. has a 1-year low of $233.81 and a 1-year high of $384.00. The company has a fifty day simple moving average of $352.97 and a 200 day simple moving average of $330.32.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last released its 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 the consensus estimate of $2.16 billion. Palo Alto Networks had a net margin of 32.11% and a return on equity of 26.83%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, EVP Lee Klarich sold 60,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of Palo Alto Networks stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the sale, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of Palo Alto Networks stock in a transaction dated 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 sale, the executive vice president now owns 159,009 shares of the company’s stock, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,252 shares of company stock worth $89,383,077 over the last quarter. 2.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PANW shares. TD Cowen upped their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. DA Davidson upped their target price on shares of Palo Alto Networks from $380.00 to $415.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Scotiabank upped their target price on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, August 20th. BMO Capital Markets upped their target price on shares of Palo Alto Networks from $334.00 to $390.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Finally, 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. Eleven research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $378.49.

Get Our Latest Stock Analysis on Palo Alto Networks

Palo Alto Networks Company Profile

(Free Report)

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.

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