Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its stake in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 44.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,053 shares of the network technology company’s stock after selling 20,176 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Palo Alto Networks were worth $8,494,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new stake in shares of Palo Alto Networks in the 1st quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Palo Alto Networks during the 4th quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. increased its holdings in shares of Palo Alto Networks by 3,200.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 99 shares of the network technology company’s stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. Central Bank & Trust Co. increased its stake in Palo Alto Networks by 89.3% in the first quarter. Central Bank & Trust Co. now owns 106 shares of the network technology company’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Finally, Cape Investment Advisory Inc. raised its holdings 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 purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Palo Alto Networks Stock Up 0.9 %

Shares of PANW opened at $332.13 on Thursday. The business’s 50 day moving average price is $337.31 and its 200-day moving average price is $316.36. Palo Alto Networks, Inc. has a 52 week low of $230.09 and a 52 week high of $380.84. The stock has a market cap of $108.14 billion, a P/E ratio of 48.27, a P/E/G ratio of 4.87 and a beta of 1.13.

Palo Alto Networks (NASDAQ:PANW) last released 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 business had revenue of $2.19 billion during 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%. Palo Alto Networks’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post 3.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PANW. Northland Securities raised their price objective on Palo Alto Networks from $275.00 to $350.00 and gave the stock a “market perform” rating in a report on Tuesday, August 20th. TD Cowen boosted their price objective on Palo Alto Networks from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Rosenblatt Securities lifted 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. Westpark Capital reissued a “hold” rating on shares of Palo Alto Networks in a research report on Tuesday, August 20th. Finally, Robert W. Baird upped their target price on shares of Palo Alto Networks from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $369.26.

Insider Buying and Selling at Palo Alto Networks

In other Palo Alto Networks news, CAO Josh D. Paul sold 200 shares of Palo Alto Networks stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the completion of the sale, the chief accounting officer now directly owns 24,782 shares of the company’s stock, valued at approximately $8,014,746.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $323.41, for a total transaction of $64,682.00. Following the transaction, the chief accounting officer now directly owns 24,782 shares in the company, valued at approximately $8,014,746.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 60,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $344.98, for a total value of $20,698,800.00. Following the sale, the executive vice president now owns 159,009 shares in the company, valued at approximately $54,854,924.82. The disclosure for this sale can be found here. Insiders have sold a total of 359,732 shares of company stock worth $118,815,557 over the last ninety days. Company insiders own 3.30% of the company’s stock.

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.