Lmcg Investments LLC Sells 727 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Lmcg Investments LLC reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 9.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,753 shares of the network technology company’s stock after selling 727 shares during the period. Lmcg Investments LLC’s holdings in Palo Alto Networks were worth $2,289,000 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. Cascade Investment Group Inc. raised its stake 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 worth $376,000 after acquiring an additional 31 shares in the last quarter. Sepio Capital LP raised its position in Palo Alto Networks by 3.7% in the 4th quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock worth $278,000 after purchasing an additional 34 shares during the period. Sheets Smith Wealth Management lifted its stake in 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 purchasing an additional 34 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its position in 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 valued at $35,000 after buying an additional 35 shares during the period. Finally, First County Bank CT grew its stake 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PANW shares. JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of Palo Alto Networks in a report on Tuesday, August 20th. Stifel Nicolaus raised their target price on shares of Palo Alto Networks from $360.00 to $385.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Royal Bank of Canada upped their price target on shares of Palo Alto Networks from $390.00 to $410.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. BTIG Research raised their price target on shares of Palo Alto Networks from $366.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Sanford C. Bernstein upped their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Thirteen equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.

Palo Alto Networks Trading Down 2.4 %

Shares of PANW stock opened at $337.93 on Wednesday. The stock has a market capitalization of $110.03 billion, a P/E ratio of 49.12, a P/E/G ratio of 5.03 and a beta of 1.13. The firm’s 50 day moving average is $336.41 and its 200 day moving average is $312.63. Palo Alto Networks, Inc. has a 12-month low of $224.64 and a 12-month high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released its quarterly earnings results on Monday, August 19th. The network technology company reported $1.51 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 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 firm earned $0.80 EPS. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. As a group, equities analysts predict that Palo Alto Networks, Inc. will post 3.55 earnings per share 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 dated Monday, August 5th. The stock was sold at an average price of $295.93, for a total value of $17,755,800.00. Following the completion of the sale, the executive vice president now owns 159,009 shares in the company, valued at $47,055,533.37. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Mary Pat Mccarthy sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $348.49, for a total transaction of $3,484,900.00. Following the sale, the director now directly owns 31,517 shares in the company, valued at approximately $10,983,359.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 60,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $295.93, for a total transaction of $17,755,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,075 shares of company stock valued at $154,029,567. 3.30% of the stock is owned by company insiders.

Palo Alto Networks Company 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.