Russell Investments Group Ltd. lowered its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,396 shares of the network technology company’s stock after selling 5,868 shares during the quarter. Russell Investments Group Ltd.’s holdings in Palo Alto Networks were worth $27,575,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PANW. Senator Investment Group LP bought a new position in Palo Alto Networks during the second quarter valued at about $203,760,000. Renaissance Technologies LLC boosted its position in Palo Alto Networks by 13.2% during the second quarter. Renaissance Technologies LLC now owns 5,074,350 shares of the network technology company’s stock worth $1,033,950,000 after purchasing an additional 590,200 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Palo Alto Networks by 292.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 620,651 shares of the network technology company’s stock worth $126,464,000 after purchasing an additional 462,447 shares during the period. Cadian Capital Management LP boosted its position in Palo Alto Networks by 41.9% during the second quarter. Cadian Capital Management LP now owns 1,318,316 shares of the network technology company’s stock worth $268,620,000 after purchasing an additional 389,383 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Palo Alto Networks by 29.5% during the second quarter. UBS Asset Management Americas Inc. now owns 1,460,690 shares of the network technology company’s stock worth $297,630,000 after purchasing an additional 332,680 shares during the period. Institutional investors own 78.77% of the company’s stock.

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Palo Alto Networks from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Wells Fargo & Co cut their target price on shares of Palo Alto Networks from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Morgan Stanley set a $290.00 target price on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. BMO Capital Markets cut their target price on shares of Palo Alto Networks from $250.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Finally, Northland Securities reiterated a “hold” rating and set a $240.00 target price on shares of Palo Alto Networks in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and an average target price of $260.74.

Shares of Palo Alto Networks stock opened at $233.86 on Friday. Palo Alto Networks Inc has a 12-month low of $160.08 and a 12-month high of $260.63. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 371.21 and a beta of 0.99. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.90. The company’s 50-day moving average price is $215.30 and its 200-day moving average price is $215.75.

Palo Alto Networks (NYSE:PANW) last announced 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 during the quarter, compared to analysts’ expectations of $803.56 million. During the same period in the previous year, the company posted $1.28 earnings per share. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts predict that Palo Alto Networks Inc will post -0.05 earnings per share for the current year.

In related news, CFO Kathleen Bonanno sold 1,610 shares of the firm’s stock in a transaction that occurred on Sunday, October 20th. The shares were sold at an average price of $214.74, for a total value of $345,731.40. Following the sale, the chief financial officer now directly owns 46,636 shares of the company’s stock, valued at $10,014,614.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $210.66, for a total transaction of $2,527,920.00. Following the completion of the sale, the executive vice president now directly owns 924,695 shares in the company, valued at $194,796,248.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,610 shares of company stock worth $16,437,971. Insiders own 2.30% of the company’s stock.

Palo Alto Networks 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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