Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by KG&L Capital Management LLC

by · The Markets Daily

KG&L Capital Management LLC reduced its position in Palo Alto Networks, Inc. (NASDAQ:PANW – Free Report) by 30.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,770 shares of the network technology company’s stock after selling 2,082 shares during the period. KG&L Capital Management LLC’s holdings in Palo Alto Networks were worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PANW. Alpha Cubed Investments LLC boosted its holdings in Palo Alto Networks by 16.4% in the 3rd quarter. Alpha Cubed Investments LLC now owns 231,566 shares of the network technology company’s stock worth $79,149,000 after buying an additional 32,626 shares during the last quarter. Wealthspire Advisors LLC boosted its holdings in Palo Alto Networks by 1.7% in the 1st quarter. Wealthspire Advisors LLC now owns 4,377 shares of the network technology company’s stock valued at $1,244,000 after purchasing an additional 75 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Palo Alto Networks by 3.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 196,700 shares of the network technology company’s stock valued at $67,232,000 after purchasing an additional 7,291 shares during the last quarter. Parsons Capital Management Inc. RI grew its stake in shares of Palo Alto Networks by 4.5% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 2,695 shares of the network technology company’s stock valued at $914,000 after buying an additional 116 shares during the period. Finally, Kingsview Wealth Management LLC increased its holdings in shares of Palo Alto Networks by 38.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 14,229 shares of the network technology company’s stock worth $4,043,000 after buying an additional 3,965 shares during the last quarter. 79.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PANW. Morgan Stanley upped their price objective on Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a report on Friday, October 11th. TD Cowen upped their price target on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. KeyCorp boosted their price objective on shares of Palo Alto Networks from $400.00 to $435.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Evercore ISI boosted their price target on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Finally, Scotiabank boosted their price target on shares of Palo Alto Networks from $385.00 to $400.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, August 20th. Eleven analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Palo Alto Networks has a consensus rating of “Moderate Buy” and a consensus target price of $378.49.

Check Out Our Latest Stock Analysis on Palo Alto Networks

Insider Activity at Palo Alto Networks

In other news, Director Mary Pat Mccarthy sold 1,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the sale, the director now owns 41,517 shares in the company, valued at approximately $14,175,564.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Mary Pat Mccarthy sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $341.44, for a total value of $341,440.00. Following the transaction, the director now directly owns 41,517 shares in the company, valued at approximately $14,175,564.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nikesh Arora sold 81,586 shares of the business’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 sale, 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. Over the last 90 days, insiders sold 255,252 shares of company stock valued at $89,383,077. Insiders own 3.30% of the company’s stock.

Palo Alto Networks Trading Up 0.6 %

NASDAQ:PANW opened at $362.64 on Monday. The company has a market capitalization of $118.08 billion, a P/E ratio of 50.02, a price-to-earnings-growth ratio of 5.22 and a beta of 1.12. The firm has a 50-day moving average price of $352.69 and a two-hundred day moving average price of $329.75. Palo Alto Networks, Inc. has a twelve month low of $233.81 and a twelve month high of $384.00.

Palo Alto Networks (NASDAQ:PANW – Get Free Report) last issued its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 EPS for the quarter, topping 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 firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. Palo Alto Networks’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current year.

Palo Alto Networks 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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