Crescent Grove Advisors LLC Has $207,000 Stake in Palo Alto Networks, Inc. (NASDAQ:PANW)

Crescent Grove Advisors LLC reduced its holdings in Palo Alto Networks, Inc. (NASDAQ:PANW) by 41.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 605 shares of the network technology company’s stock after selling 430 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Palo Alto Networks were worth $207,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PANW. International Assets Investment Management LLC grew its holdings in Palo Alto Networks by 34,318.2% in the 3rd quarter. International Assets Investment Management LLC now owns 3,259,063 shares of the network technology company’s stock valued at $1,113,948,000 after buying an additional 3,249,594 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Palo Alto Networks by 3.6% in the first quarter. Vanguard Group Inc. now owns 28,572,098 shares of the network technology company’s stock worth $8,118,190,000 after acquiring an additional 1,002,239 shares during the last quarter. Swedbank AB bought a new position in Palo Alto Networks during the first quarter worth $177,933,000. Altshuler Shaham Ltd raised its stake in Palo Alto Networks by 444,100.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 444,000 shares of the network technology company’s stock valued at $150,520,000 after purchasing an additional 444,100 shares during the last quarter. Finally, Congress Asset Management Co. bought a new stake in Palo Alto Networks in the 3rd quarter valued at $94,875,000. 79.82% of the stock is currently owned by institutional investors.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total value of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 618,715 shares in the company, valued at $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nir Zuk sold 36,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $332.50, for a total transaction of $11,970,000.00. Following the sale, the executive vice president now directly owns 1,115,567 shares of the company’s stock, valued at $370,926,027.50. This 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 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price objective on shares of Palo Alto Networks in a research report on Monday. Susquehanna upped their price target on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a report on Thursday, September 5th. Sanford C. Bernstein lifted their price objective on Palo Alto Networks from $364.00 to $399.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. Westpark Capital restated a “hold” rating on shares of Palo Alto Networks in a research note on Tuesday, August 20th. Finally, Robert W. Baird raised their target price on Palo Alto Networks from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.49.

Palo Alto Networks Trading Up 5.2 %

NASDAQ PANW opened at $385.18 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $234.15 and a 12 month high of $386.20. The company has a market capitalization of $125.41 billion, a PE ratio of 53.13, a P/E/G ratio of 5.23 and a beta of 1.12. The stock has a 50-day simple moving average of $353.98 and a 200 day simple moving average of $331.32.

Palo Alto Networks (NASDAQ:PANW) last announced 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 for 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%. Palo Alto Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. As a group, sell-side analysts predict that Palo Alto Networks, Inc. will post 3.57 earnings per share for the current fiscal year.

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.