Osborne Partners Capital Management LLC Sells 930 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Osborne Partners Capital Management LLC trimmed its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% during the third quarter, HoldingsChannel reports. The firm owned 55,190 shares of the network technology company’s stock after selling 930 shares during the quarter. Palo Alto Networks comprises 1.1% of Osborne Partners Capital Management LLC’s portfolio, making the stock its 21st largest holding. Osborne Partners Capital Management LLC’s holdings in Palo Alto Networks were worth $18,864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC grew its position in shares of Palo Alto Networks by 91.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 5,520 shares of the network technology company’s stock valued at $1,568,000 after purchasing an additional 2,638 shares during the period. New England Research & Management Inc. bought a new stake in shares of Palo Alto Networks during the first quarter worth $291,000. Webster Bank N. A. increased its position in shares of Palo Alto Networks by 44.4% during the first quarter. Webster Bank N. A. now owns 143 shares of the network technology company’s stock worth $41,000 after acquiring an additional 44 shares in the last quarter. Toth Financial Advisory Corp raised its holdings in shares of Palo Alto Networks by 34.4% during the first quarter. Toth Financial Advisory Corp now owns 285 shares of the network technology company’s stock worth $81,000 after acquiring an additional 73 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Palo Alto Networks by 25.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,279 shares of the network technology company’s stock valued at $3,489,000 after acquiring an additional 2,497 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Insider Transactions at Palo Alto Networks

In related news, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 159,009 shares in the company, valued at approximately $47,055,533.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $323.41, for a total value of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at $8,014,746.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a 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 that occurred 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 sale, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 351,452 shares of company stock valued at $118,643,279. 3.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PANW has been the topic of several recent research reports. DA Davidson lifted their price target on Palo Alto Networks from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Evercore ISI lifted their target price on Palo Alto Networks from $385.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, August 20th. Stifel Nicolaus boosted their target price on Palo Alto Networks from $360.00 to $385.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. KeyCorp raised their price target on shares of Palo Alto Networks from $400.00 to $435.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Northland Securities boosted their price objective on shares of Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.82.

Palo Alto Networks Price Performance

PANW opened at $366.44 on Friday. The business has a fifty day simple moving average of $351.26 and a 200 day simple moving average of $325.45. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00. The company has a market capitalization of $119.31 billion, a PE ratio of 50.54, a price-to-earnings-growth ratio of 5.45 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last announced its earnings results on Monday, August 19th. The network technology company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. Palo Alto Networks’s quarterly revenue was up 12.1% on a year-over-year basis. Equities analysts anticipate 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.