Pinebridge Investments L.P. decreased its holdings in Palo Alto Networks Inc (NYSE:PANW) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 52,817 shares of the network technology company’s stock after selling 4,266 shares during the quarter. Pinebridge Investments L.P. owned 0.06% of Palo Alto Networks worth $10,762,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Manchester Capital Management LLC bought a new position in Palo Alto Networks in the 1st quarter worth approximately $26,000. Cable Hill Partners LLC raised its holdings in Palo Alto Networks by 226.1% during the 1st quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock valued at $37,000 after buying an additional 104 shares during the period. Berman Capital Advisors LLC raised its holdings in Palo Alto Networks by 32.1% during the 1st quarter. Berman Capital Advisors LLC now owns 177 shares of the network technology company’s stock valued at $42,000 after buying an additional 43 shares during the period. Commonwealth Bank of Australia raised its holdings in Palo Alto Networks by 35.3% during the 2nd quarter. Commonwealth Bank of Australia now owns 253 shares of the network technology company’s stock valued at $49,000 after buying an additional 66 shares during the period. Finally, Cypress Capital Management LLC WY purchased a new stake in Palo Alto Networks during the 2nd quarter valued at $51,000. 79.57% of the stock is owned by institutional investors and hedge funds.

In related news, Director Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 240,236 shares of the company’s stock, valued at $54,636,873.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Rene Bonvanie sold 9,611 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $220.00, for a total value of $2,114,420.00. Following the sale, the executive vice president now directly owns 32,082 shares in the company, valued at approximately $7,058,040. The disclosure for this sale can be found here. Insiders have sold a total of 119,220 shares of company stock worth $25,827,116 in the last three months. Corporate insiders own 3.10% of the company’s stock.

Several analysts recently weighed in on PANW shares. Credit Suisse Group increased their price target on Palo Alto Networks from $185.00 to $195.00 and gave the company an “underperform” rating in a report on Thursday, September 5th. Evercore ISI restated a “buy” rating and set a $290.00 price target on shares of Palo Alto Networks in a report on Sunday, June 2nd. BMO Capital Markets decreased their price target on Palo Alto Networks from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. KeyCorp decreased their price target on Palo Alto Networks from $280.00 to $250.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. Finally, ValuEngine raised Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Palo Alto Networks currently has a consensus rating of “Buy” and a consensus target price of $261.23.

Shares of PANW traded down $1.17 during midday trading on Friday, reaching $208.07. 790,476 shares of the stock were exchanged, compared to its average volume of 1,930,395. Palo Alto Networks Inc has a 52 week low of $160.08 and a 52 week high of $260.63. The company has a current ratio of 1.78, a quick ratio of 1.86 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average is $212.09 and its two-hundred day moving average is $223.04. The company has a market capitalization of $20.06 billion, a P/E ratio of 330.27, a PEG ratio of 18.95 and a beta of 0.94.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). Palo Alto Networks had a positive return on equity of 4.82% and a negative net margin of 2.82%. The firm had revenue of $805.80 million for the quarter, compared to the consensus estimate of $803.56 million. During the same period in the previous year, the company posted $1.28 EPS. Palo Alto Networks’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts expect that Palo Alto Networks Inc will post 0.47 EPS for the current year.

About Palo Alto Networks

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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