Bouvel Investment Partners LLC Has $5.22 Million Stock Holdings in Palo Alto Networks, Inc. (NASDAQ:PANW)

Bouvel Investment Partners LLC trimmed its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 27.1% in the third quarter, Holdings Channel.com reports. The fund owned 15,283 shares of the network technology company’s stock after selling 5,669 shares during the quarter. Palo Alto Networks accounts for approximately 1.9% of Bouvel Investment Partners LLC’s portfolio, making the stock its 16th largest position. Bouvel Investment Partners LLC’s holdings in Palo Alto Networks were worth $5,224,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. ROI Financial Advisors LLC boosted its stake in Palo Alto Networks by 0.7% in the 3rd quarter. ROI Financial Advisors LLC now owns 13,597 shares of the network technology company’s stock valued at $4,647,000 after buying an additional 89 shares in the last quarter. Plato Investment Management Ltd raised its stake in Palo Alto Networks by 1.4% during the third quarter. Plato Investment Management Ltd now owns 4,813 shares of the network technology company’s stock worth $1,643,000 after acquiring an additional 65 shares in the last quarter. Schrum Private Wealth Management LLC lifted its holdings in shares of Palo Alto Networks by 12.1% during the third quarter. Schrum Private Wealth Management LLC now owns 4,798 shares of the network technology company’s stock valued at $1,640,000 after acquiring an additional 516 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Palo Alto Networks by 18.8% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 4,227 shares of the network technology company’s stock valued at $1,445,000 after purchasing an additional 670 shares in the last quarter. Finally, Saturna Capital Corp grew its holdings in shares of Palo Alto Networks by 3.8% in the 3rd quarter. Saturna Capital Corp now owns 3,459 shares of the network technology company’s stock worth $1,182,000 after purchasing an additional 126 shares during the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PANW shares. Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and cut their price target for the company from $350.00 to $325.00 in a report on Thursday, July 18th. Robert W. Baird lifted their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their price target on Palo Alto Networks from $340.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Barclays raised their price target on Palo Alto Networks from $410.00 to $425.00 and gave the company an “overweight” rating in a report on Monday. Finally, Northland Securities boosted their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Palo Alto Networks presently has an average rating of “Moderate Buy” and a consensus target price of $378.87.

Insider Buying and Selling

In related news, CEO Nikesh Arora sold 81,586 shares of the firm’s stock in a transaction on 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 in the company, valued at $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Nikesh Arora sold 81,586 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $367.99, for a total transaction of $30,022,832.14. Following the completion of the transaction, the chief executive officer now directly owns 618,715 shares in the company, valued at approximately $227,680,932.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 36,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $332.50, for a total value of $11,970,000.00. Following the completion of the sale, the executive vice president now owns 1,115,567 shares in the company, valued at $370,926,027.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 255,252 shares of company stock valued at $89,383,077. 2.50% of the stock is owned by corporate insiders.

Palo Alto Networks Stock Up 1.1 %

Shares of PANW stock opened at $402.36 on Thursday. Palo Alto Networks, Inc. has a 12-month low of $234.15 and a 12-month high of $408.53. The firm has a fifty day moving average of $356.70 and a 200-day moving average of $334.54. The firm has a market capitalization of $131.01 billion, a price-to-earnings ratio of 55.50, a price-to-earnings-growth ratio of 5.77 and a beta of 1.12.

Palo Alto Networks (NASDAQ:PANW) last posted 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 return on equity of 26.83% and a net margin of 32.11%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Research analysts expect that Palo Alto Networks, Inc. will post 3.56 earnings per share for the current 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.