Seven Bridges Advisors LLC increased its stake in shares of Palo Alto Networks Inc. (NYSE:PANW) by 45.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,109 shares of the network technology company’s stock after buying an additional 663 shares during the period. Seven Bridges Advisors LLC’s holdings in Palo Alto Networks were worth $259,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. raised its stake in shares of Palo Alto Networks by 10.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 814 shares of the network technology company’s stock worth $100,000 after buying an additional 76 shares during the period. Wunderlich Capital Managemnt acquired a new stake in shares of Palo Alto Networks during the first quarter worth approximately $103,000. Integrated Investment Consultants LLC raised its stake in Palo Alto Networks by 6.7% in the second quarter. Integrated Investment Consultants LLC now owns 1,040 shares of the network technology company’s stock valued at $128,000 after buying an additional 65 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Palo Alto Networks by 128.3% in the second quarter. Checchi Capital Advisers LLC now owns 1,155 shares of the network technology company’s stock valued at $142,000 after buying an additional 649 shares during the last quarter. Finally, Hartford Investment Management Co. raised its stake in Palo Alto Networks by 12.0% in the second quarter. Hartford Investment Management Co. now owns 1,810 shares of the network technology company’s stock valued at $222,000 after buying an additional 194 shares during the last quarter. Institutional investors own 80.06% of the company’s stock.

Shares of Palo Alto Networks Inc. (NYSE:PANW) traded down 0.30% during trading on Wednesday, hitting $149.62. The stock had a trading volume of 1,313,576 shares. The company’s market cap is $13.59 billion. The stock has a 50-day moving average price of $139.59 and a 200 day moving average price of $139.38. Palo Alto Networks Inc. has a 12 month low of $111.09 and a 12 month high of $194.73.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Tuesday, August 30th. The network technology company reported $0.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $400.80 million for the quarter, compared to the consensus estimate of $389.90 million. Palo Alto Networks had a negative return on equity of 34.28% and a negative net margin of 16.39%. Palo Alto Networks’s quarterly revenue was up 41.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. Equities analysts expect that Palo Alto Networks Inc. will post $2.78 EPS for the current fiscal year.

Several analysts have recently issued reports on the stock. Nomura reiterated a “buy” rating and issued a $200.00 target price on shares of Palo Alto Networks in a research note on Sunday, May 29th. Bank of America Corp. reiterated a “buy” rating and issued a $178.00 target price (down previously from $210.00) on shares of Palo Alto Networks in a research note on Sunday, May 29th. FBN Securities reiterated a “buy” rating on shares of Palo Alto Networks in a research note on Sunday, May 29th. Royal Bank Of Canada reiterated a “buy” rating on shares of Palo Alto Networks in a research note on Sunday, May 29th. Finally, Credit Suisse Group AG reiterated a “buy” rating on shares of Palo Alto Networks in a research note on Sunday, May 29th. Eight research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Palo Alto Networks currently has an average rating of “Buy” and a consensus price target of $180.96.

In other Palo Alto Networks news, CEO Mark D. Mclaughlin sold 70,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $140.00, for a total value of $9,800,000.00. Following the transaction, the chief executive officer now owns 667,303 shares of the company’s stock, valued at approximately $93,422,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark D. Mclaughlin sold 26,423 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $144.29, for a total value of $3,812,574.67. Following the completion of the transaction, the chief executive officer now directly owns 540,880 shares in the company, valued at approximately $78,043,575.20. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc is a security company. The Company’s security platform consists of three elements: its Next-Generation Firewall, its Advanced Endpoint Protection, and its Threat Intelligence Cloud. The Company’s Next-Generation Firewall delivers application, user, and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

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