SlateStone Wealth LLC grew its position in Palo Alto Networks Inc (NYSE:PANW) by 7.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,081 shares of the network technology company’s stock after buying an additional 298 shares during the quarter. SlateStone Wealth LLC’s holdings in Palo Alto Networks were worth $832,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PANW. Alpha Omega Wealth Management LLC bought a new position in shares of Palo Alto Networks in the first quarter valued at approximately $26,000. Manchester Capital Management LLC bought a new position in Palo Alto Networks during the first quarter worth $26,000. C J Advisory Inc bought a new position in Palo Alto Networks during the first quarter worth $30,000. Cable Hill Partners LLC increased its position in Palo Alto Networks by 226.1% during the first quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock worth $37,000 after acquiring an additional 104 shares during the period. Finally, Arrow Financial Corp bought a new position in Palo Alto Networks during the first quarter worth $40,000. Institutional investors and hedge funds own 79.97% of the company’s stock.

In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $227.43, for a total transaction of $9,097,200.00. Following the completion of the transaction, the director now owns 240,236 shares of the company’s stock, valued at approximately $54,636,873.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $197.47, for a total value of $2,369,640.00. Following the transaction, the executive vice president now directly owns 940,243 shares of the company’s stock, valued at approximately $185,669,785.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,092 shares of company stock valued at $39,067,840. Insiders own 3.10% of the company’s stock.

Shares of PANW traded up $3.45 on Wednesday, hitting $203.13. The company’s stock had a trading volume of 997,538 shares, compared to its average volume of 1,071,376. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.97. The firm’s fifty day moving average price is $216.67 and its 200-day moving average price is $225.07. Palo Alto Networks Inc has a fifty-two week low of $160.08 and a fifty-two week high of $260.63. The firm has a market capitalization of $19.12 billion, a price-to-earnings ratio of -369.33, a P/E/G ratio of 6.76 and a beta of 0.90.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Wednesday, May 29th. The network technology company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.06). Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The business had revenue of $726.60 million during the quarter, compared to analyst estimates of $704.89 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Palo Alto Networks’s revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, equities analysts predict that Palo Alto Networks Inc will post 0.87 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on PANW. Evercore ISI reaffirmed a “buy” rating and set a $290.00 target price on shares of Palo Alto Networks in a research report on Sunday, June 2nd. BMO Capital Markets dropped their target price on shares of Palo Alto Networks from $285.00 to $250.00 and set a “market perform” rating on the stock in a research report on Thursday, May 30th. JPMorgan Chase & Co. dropped their target price on shares of Palo Alto Networks from $293.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Robert W. Baird reiterated a “buy” rating and set a $275.00 price target on shares of Palo Alto Networks in a research note on Wednesday, August 14th. Finally, Credit Suisse Group decreased their price target on shares of Palo Alto Networks from $190.00 to $185.00 and set an “underperform” rating on the stock in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Palo Alto Networks presently has an average rating of “Buy” and a consensus target price of $263.38.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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