Campbell & CO Investment Adviser LLC Sells 17,520 Shares of Palo Alto Networks, Inc. $PANW

Campbell & CO Investment Adviser LLC decreased its holdings in shares of Palo Alto Networks, Inc. (NASDAQ:PANW) by 78.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,749 shares of the network technology company’s stock after selling 17,520 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Palo Alto Networks were worth $967,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PANW. Vanguard Group Inc. raised its holdings in shares of Palo Alto Networks by 2.0% during the second quarter. Vanguard Group Inc. now owns 64,016,374 shares of the network technology company’s stock valued at $13,100,311,000 after acquiring an additional 1,240,830 shares in the last quarter. Geode Capital Management LLC raised its holdings in Palo Alto Networks by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 15,174,029 shares of the network technology company’s stock worth $3,093,262,000 after purchasing an additional 169,055 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Palo Alto Networks by 7.7% in the 2nd quarter. First Trust Advisors LP now owns 5,295,588 shares of the network technology company’s stock worth $1,083,689,000 after purchasing an additional 377,496 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Palo Alto Networks by 1.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,476,638 shares of the network technology company’s stock valued at $916,099,000 after purchasing an additional 54,601 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Palo Alto Networks during the second quarter valued at about $675,865,000. 79.82% of the stock is currently owned by institutional investors.

Insider Transactions at Palo Alto Networks

In other news, EVP Dipak Golechha sold 5,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $188.18, for a total value of $940,900.00. Following the sale, the executive vice president directly owned 155,119 shares of the company’s stock, valued at approximately $29,190,293.42. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Josh D. Paul sold 800 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $184.81, for a total value of $147,848.00. Following the transaction, the chief accounting officer directly owned 46,005 shares of the company’s stock, valued at approximately $8,502,184.05. The trade was a 1.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 382,016 shares of company stock worth $76,386,460. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PANW has been the topic of several research reports. Wedbush reaffirmed an “outperform” rating and set a $225.00 price objective on shares of Palo Alto Networks in a research report on Thursday, November 20th. The Goldman Sachs Group restated a “buy” rating and set a $240.00 price target (up from $236.00) on shares of Palo Alto Networks in a research report on Thursday, November 20th. Hsbc Global Res downgraded Palo Alto Networks from a “hold” rating to a “moderate sell” rating in a report on Thursday, November 20th. Rosenblatt Securities raised their price objective on Palo Alto Networks from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, November 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Palo Alto Networks in a research report on Monday, November 24th. Thirty-one research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.09.

Palo Alto Networks Trading Down 0.0%

Shares of NASDAQ PANW opened at $187.66 on Tuesday. The firm has a 50 day moving average of $190.77 and a 200 day moving average of $195.56. Palo Alto Networks, Inc. has a 12-month low of $144.15 and a 12-month high of $223.61. The firm has a market capitalization of $130.80 billion, a price-to-earnings ratio of 118.77, a price-to-earnings-growth ratio of 4.47 and a beta of 0.76.

Palo Alto Networks (NASDAQ:PANW) last released its earnings results on Thursday, November 20th. The network technology company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.04. Palo Alto Networks had a return on equity of 17.05% and a net margin of 11.69%.The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the business posted $1.56 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. Sell-side analysts predict that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Palo Alto Networks Profile

Palo Alto Networks (NASDAQ: PANW) is a cybersecurity company founded in 2005 and headquartered in Santa Clara, California. The firm develops a broad suite of security products and services designed to prevent successful cyberattacks and protect enterprise networks, clouds, and endpoints. Built around a platform strategy, its offerings target threat prevention, detection, response and governance across hybrid and multi-cloud environments.

The company’s product portfolio includes next‑generation firewalls as a core on‑premises capability, alongside cloud‑delivered security services and software for securing public and private clouds.