Impax Asset Management Group plc Sells 1,718 Shares of Palo Alto Networks, Inc. (NASDAQ:PANW)

Impax Asset Management Group plc lowered its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,167 shares of the network technology company’s stock after selling 1,718 shares during the quarter. Impax Asset Management Group plc’s holdings in Palo Alto Networks were worth $34,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC bought a new stake in shares of Palo Alto Networks in the first quarter worth about $25,000. Capital Advisors Ltd. LLC increased its stake in 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 worth $26,000 after acquiring an additional 41 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Palo Alto Networks by 352.6% during the 3rd quarter. Sound Income Strategies LLC now owns 86 shares of the network technology company’s stock worth $29,000 after acquiring an additional 67 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its position 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 valued at $29,000 after acquiring an additional 55 shares during the last quarter. Finally, Cape Investment Advisory Inc. grew its holdings in shares of Palo Alto Networks by 1,111.1% in the first quarter. Cape Investment Advisory Inc. now owns 109 shares of the network technology company’s stock valued at $31,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PANW. TD Cowen increased their price objective on shares of Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. UBS Group lifted their price target on Palo Alto Networks from $345.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley boosted their price objective on Palo Alto Networks from $390.00 to $421.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Northland Securities increased their price target on Palo Alto Networks from $275.00 to $350.00 and gave the company a “market perform” rating in a report on Tuesday, August 20th. Finally, Citigroup boosted their price objective on shares of Palo Alto Networks from $385.00 to $395.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Eleven investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $378.49.

Insiders Place Their Bets

In other news, EVP Lee Klarich sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total value of $20,698,800.00. Following the completion of the transaction, the executive vice president now directly owns 159,009 shares in the company, valued at $54,854,924.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Palo Alto Networks news, CEO Nikesh Arora sold 81,586 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a legal 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 that occurred on Wednesday, September 4th. The stock was sold at an average price of $344.98, for a total transaction of $20,698,800.00. Following the sale, the executive vice president now directly owns 159,009 shares in the company, valued at $54,854,924.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,252 shares of company stock valued at $89,383,077. 2.50% of the stock is owned by company insiders.

Palo Alto Networks Price Performance

Shares of NASDAQ:PANW opened at $361.12 on Tuesday. Palo Alto Networks, Inc. has a 1 year low of $233.81 and a 1 year high of $384.00. The firm has a market capitalization of $117.58 billion, a P/E ratio of 49.81, a P/E/G ratio of 5.26 and a beta of 1.12. The business’s 50-day moving average is $352.97 and its 200 day moving average is $330.32.

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 analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 EPS. On average, analysts expect that Palo Alto Networks, Inc. will post 3.57 EPS for the current year.

Palo Alto Networks 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.