Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Boston Financial Mangement LLC

by · The Cerbat Gem

Boston Financial Mangement LLC cut its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 20.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,303 shares of the network technology company’s stock after selling 5,439 shares during the quarter. Boston Financial Mangement LLC’s holdings in Palo Alto Networks were worth $7,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. Pathway Financial Advisers LLC purchased a new position in Palo Alto Networks in the first quarter valued at $25,000. Capital Advisors Ltd. LLC grew its position in shares of 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 in the last quarter. Sound Income Strategies LLC increased its stake in shares of 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 period. Strategic Investment Solutions Inc. IL raised its holdings 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 acquiring an additional 55 shares in the last quarter. Finally, Cape Investment Advisory Inc. lifted its stake in Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Josh D. Paul sold 200 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $323.41, for a total value of $64,682.00. Following the completion of the sale, the chief accounting officer now owns 24,782 shares in the company, valued at $8,014,746.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their position. 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 quarter. 3.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on PANW. BMO Capital Markets increased their price objective on shares of Palo Alto Networks from $334.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Wedbush reaffirmed an “outperform” rating and set a $375.00 price target on shares of Palo Alto Networks in a report on Friday, August 16th. TD Cowen raised their target price on Palo Alto Networks from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Bank of America upped their price target on Palo Alto Networks from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Finally, BTIG Research increased their price target 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. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Palo Alto Networks presently has an average rating of “Moderate Buy” and an average price target of $376.82.

Check Out Our Latest Analysis on PANW

Palo Alto Networks Stock Down 1.1 %

Shares of PANW opened at $362.35 on Tuesday. The company has a market capitalization of $117.98 billion, a PE ratio of 49.98, a P/E/G ratio of 5.31 and a beta of 1.13. The company has a 50-day simple moving average of $352.29 and a 200-day simple moving average of $327.33. Palo Alto Networks, Inc. has a 52-week low of $233.81 and a 52-week high of $384.00.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) 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 business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, research analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

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.

See Also

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