Cozad Asset Management Inc. Lowers Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Cozad Asset Management Inc. reduced its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 8.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,376 shares of the network technology company’s stock after selling 526 shares during the period. Cozad Asset Management Inc.’s holdings in Palo Alto Networks were worth $1,838,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PANW. Capital Advisors Ltd. LLC grew its position 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 valued at $26,000 after acquiring an additional 41 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Palo Alto Networks by 352.6% in the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after purchasing an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in shares of Palo Alto Networks by 177.4% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after purchasing an additional 55 shares during the period. Pathway Financial Advisers LLC acquired a new stake in Palo Alto Networks during the 1st quarter worth approximately $25,000. Finally, First PREMIER Bank raised its holdings in Palo Alto Networks by 48.4% in the third quarter. First PREMIER Bank now owns 95 shares of the network technology company’s stock valued at $32,000 after buying an additional 31 shares during the period. 79.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on PANW. Oppenheimer increased their price objective on shares of Palo Alto Networks from $410.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Rosenblatt Securities raised their price objective on Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Wells Fargo & Company upped their target price on Palo Alto Networks from $385.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Citigroup raised their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, The Goldman Sachs Group lifted their price objective on shares of Palo Alto Networks from $376.00 to $425.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.49.

Palo Alto Networks Stock Up 0.5 %

Shares of NASDAQ:PANW opened at $387.00 on Friday. The company’s 50-day moving average price is $353.98 and its 200 day moving average price is $331.32. The company has a market cap of $126.01 billion, a PE ratio of 53.38, a P/E/G ratio of 5.23 and a beta of 1.12. Palo Alto Networks, Inc. has a fifty-two week low of $234.15 and a fifty-two week high of $387.21.

Palo Alto Networks (NASDAQ:PANW) last issued its quarterly earnings data on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.10. Palo Alto Networks had a return on equity of 26.83% and a net margin of 32.11%. The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm posted $0.80 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Insider Activity at Palo Alto Networks

In other Palo Alto Networks news, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were 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 in the company, valued at approximately $370,926,027.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nir Zuk sold 36,000 shares of Palo Alto Networks 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 transaction, the executive vice president now directly owns 1,115,567 shares in the company, valued at approximately $370,926,027.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 618,715 shares of the company’s stock, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,252 shares of company stock worth $89,383,077 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

About Palo Alto Networks

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.