Fiera Capital Corp Cuts Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Fiera Capital Corp decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,904 shares of the network technology company’s stock after selling 60 shares during the period. Fiera Capital Corp’s holdings in Palo Alto Networks were worth $1,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Horizon Family Wealth Inc. grew its position in shares of Palo Alto Networks by 1.1% in the fourth quarter. Horizon Family Wealth Inc. now owns 2,463 shares of the network technology company’s stock valued at $726,000 after purchasing an additional 28 shares during the period. Manchester Capital Management LLC increased its stake in Palo Alto Networks by 17.2% during the 4th quarter. Manchester Capital Management LLC now owns 204 shares of the network technology company’s stock worth $60,000 after buying an additional 30 shares in the last quarter. Cascade Investment Group Inc. raised its holdings in shares of Palo Alto Networks by 2.9% during the second quarter. Cascade Investment Group Inc. now owns 1,110 shares of the network technology company’s stock valued at $376,000 after acquiring an additional 31 shares during the last quarter. Sepio Capital LP lifted its position in shares of Palo Alto Networks by 3.7% in the fourth quarter. Sepio Capital LP now owns 944 shares of the network technology company’s stock valued at $278,000 after acquiring an additional 34 shares in the last quarter. Finally, Sheets Smith Wealth Management boosted its stake in shares of Palo Alto Networks by 2.4% in the first quarter. Sheets Smith Wealth Management now owns 1,479 shares of the network technology company’s stock worth $420,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 79.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PANW. JPMorgan Chase & Co. raised their price objective on Palo Alto Networks from $340.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Redburn Atlantic downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $350.00 to $325.00 in a research note on Thursday, July 18th. Daiwa America upgraded shares of Palo Alto Networks to a “strong-buy” rating in a research report on Wednesday, May 29th. Sanford C. Bernstein increased their price objective on shares of Palo Alto Networks from $364.00 to $399.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Finally, Susquehanna boosted their target price on Palo Alto Networks from $325.00 to $340.00 and gave the stock a “positive” rating in a report on Tuesday, May 21st. Thirteen equities 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $364.08.

Insider Transactions at Palo Alto Networks

In related news, CAO Josh D. Paul sold 200 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at $8,443,916. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Mary Pat Mccarthy sold 10,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $348.49, for a total value of $3,484,900.00. Following the transaction, the director now owns 31,517 shares in the company, valued at approximately $10,983,359.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Josh D. Paul sold 200 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $338.00, for a total value of $67,600.00. Following the sale, the chief accounting officer now owns 24,982 shares of the company’s stock, valued at approximately $8,443,916. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 339,572 shares of company stock valued at $111,126,265. 3.30% of the stock is currently owned by corporate insiders.

Palo Alto Networks Stock Down 2.5 %

Shares of PANW stock opened at $346.15 on Thursday. The firm has a 50 day moving average of $335.82 and a two-hundred day moving average of $310.46. The stock has a market capitalization of $112.08 billion, a PE ratio of 50.31, a P/E/G ratio of 5.29 and a beta of 1.13. Palo Alto Networks, Inc. has a 52 week low of $224.64 and a 52 week high of $380.84.

Palo Alto Networks (NASDAQ:PANW) last released 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 analyst estimates of $2.16 billion. During the same period last year, the business posted $0.80 earnings per share. Palo Alto Networks’s revenue was up 12.1% compared to the same quarter last year. Analysts expect that Palo Alto Networks, Inc. will post 3.55 EPS 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.