Palo Alto Networks, Inc. (NASDAQ:PANW) Shares Sold by Crew Capital Management Ltd.

Crew Capital Management Ltd. reduced its position in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,253 shares of the network technology company’s stock after selling 254 shares during the period. Crew Capital Management Ltd.’s holdings in Palo Alto Networks were worth $410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PANW. Mainstream Capital Management LLC bought a new position in Palo Alto Networks during the 3rd quarter worth $1,156,000. Harvest Portfolios Group Inc. bought a new position in Palo Alto Networks during the 3rd quarter worth $24,414,000. Jennison Associates LLC grew its stake in Palo Alto Networks by 50.1% during the 3rd quarter. Jennison Associates LLC now owns 3,147,215 shares of the network technology company’s stock worth $1,075,718,000 after buying an additional 1,050,173 shares during the last quarter. Swiss National Bank grew its stake in Palo Alto Networks by 0.5% during the 3rd quarter. Swiss National Bank now owns 961,000 shares of the network technology company’s stock worth $328,470,000 after buying an additional 4,400 shares during the last quarter. Finally, Chartwell Investment Partners LLC bought a new position in Palo Alto Networks during the 3rd quarter worth $3,844,000. 79.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Palo Alto Networks

In other news, EVP Lee Klarich sold 120,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $179.70, for a total transaction of $21,564,000.00. Following the completion of the sale, the executive vice president now directly owns 365,856 shares of the company’s stock, valued at $65,744,323.20. This trade represents a 24.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nikesh Arora sold 176,242 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $180.04, for a total value of $31,730,609.68. Following the sale, the chief executive officer now directly owns 1,086,404 shares of the company’s stock, valued at $195,596,176.16. This trade represents a 13.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock valued at $204,315,811 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Trading Up 0.4 %

Shares of Palo Alto Networks stock opened at $184.38 on Wednesday. The stock has a 50-day moving average price of $186.45 and a 200 day moving average price of $184.75. The company has a market cap of $122.08 billion, a P/E ratio of 103.88, a P/E/G ratio of 5.64 and a beta of 1.14. Palo Alto Networks, Inc. has a 1 year low of $132.50 and a 1 year high of $208.39.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.24 billion. Palo Alto Networks had a return on equity of 21.93% and a net margin of 14.64%. On average, equities analysts forecast that Palo Alto Networks, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on PANW. BMO Capital Markets upped their price objective on Palo Alto Networks from $195.00 to $212.50 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Robert W. Baird upped their price objective on Palo Alto Networks from $212.50 to $217.50 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. HSBC cut Palo Alto Networks from a “hold” rating to a “reduce” rating and decreased their price target for the stock from $152.00 to $145.50 in a research note on Friday, November 22nd. Hsbc Global Res cut Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 22nd. Finally, Susquehanna increased their price target on Palo Alto Networks from $217.50 to $230.00 and gave the stock a “positive” rating in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.06.

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.