F M Investments LLC Sells 945 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

F M Investments LLC reduced its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 0.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,967 shares of the network technology company’s stock after selling 945 shares during the quarter. Palo Alto Networks makes up approximately 1.3% of F M Investments LLC’s holdings, making the stock its 13th biggest position. F M Investments LLC’s holdings in Palo Alto Networks were worth $37,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in Palo Alto Networks during the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC boosted its holdings in shares of Palo Alto Networks by 113.9% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 77 shares of the network technology company’s stock valued at $26,000 after buying an additional 41 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Palo Alto Networks by 352.6% in the third quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in Palo Alto Networks by 177.4% during the third quarter. Strategic Investment Solutions Inc. IL now owns 86 shares of the network technology company’s stock worth $29,000 after buying an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. raised its position in Palo Alto Networks by 1,111.1% during the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. 79.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PANW shares. Rosenblatt Securities upped their target price on shares of Palo Alto Networks from $300.00 to $345.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Susquehanna raised their price objective on Palo Alto Networks from $340.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, September 5th. Redburn Atlantic lowered Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $350.00 to $325.00 in a report on Thursday, July 18th. Robert W. Baird raised their price target on Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Finally, Morgan Stanley upped their price objective on shares of Palo Alto Networks from $390.00 to $421.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Eleven investment 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. Based on data from MarketBeat, Palo Alto Networks presently has a consensus rating of “Moderate Buy” and an average target price of $378.49.

Palo Alto Networks Stock Performance

Shares of NASDAQ:PANW traded up $2.31 during midday trading on Friday, reaching $362.64. The company’s stock had a trading volume of 2,926,275 shares, compared to its average volume of 3,937,745. Palo Alto Networks, Inc. has a fifty-two week low of $233.81 and a fifty-two week high of $384.00. The firm has a 50 day moving average price of $352.69 and a two-hundred day moving average price of $329.01. The firm has a market capitalization of $118.08 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 5.21 and a beta of 1.13.

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

Insider Activity at Palo Alto Networks

In other news, 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 transaction, the executive vice president now directly owns 159,009 shares of the company’s stock, valued at $47,055,533.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Nikesh Arora sold 81,586 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 618,715 shares in the company, valued at approximately $227,680,932.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $295.93, for a total value of $17,755,800.00. Following the transaction, the executive vice president now owns 159,009 shares in the company, valued at approximately $47,055,533.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 315,252 shares of company stock valued at $107,138,877 in the last three months. Corporate insiders own 3.30% 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.