B & T Capital Management DBA Alpha Capital Management reduced its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 3.6% during the second quarter, Holdings Channel reports. The fund owned 9,666 shares of the network technology company’s stock after selling 364 shares during the period. B & T Capital Management DBA Alpha Capital Management’s holdings in Palo Alto Networks were worth $1,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WFG Advisors LP raised its position in Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock valued at $101,000 after buying an additional 50 shares during the last quarter. Global X Management Co. LLC raised its position in shares of Palo Alto Networks by 31.9% in the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after buying an additional 227 shares in the last quarter. Integrated Investment Consultants LLC acquired a new position in shares of Palo Alto Networks during the first quarter valued at about $120,000. First Interstate Bank raised its position in shares of Palo Alto Networks by 130.7% in the first quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock valued at $155,000 after buying an additional 779 shares in the last quarter. Finally, OLD National Bancorp IN acquired a new position in shares of Palo Alto Networks during the second quarter valued at about $201,000. 80.50% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks, Inc. (NYSE PANW) opened at 138.32 on Monday. The stock’s market capitalization is $12.70 billion. The stock’s 50 day moving average price is $128.32 and its 200 day moving average price is $127.52. Palo Alto Networks, Inc. has a 52-week low of $107.31 and a 52-week high of $165.69.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Wednesday, May 31st. The network technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.06. The business had revenue of $431.80 million during the quarter, compared to the consensus estimate of $412.11 million. Palo Alto Networks had a negative return on equity of 23.77% and a negative net margin of 14.38%. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. On average, analysts forecast that Palo Alto Networks, Inc. will post $2.59 EPS for the current year.

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Several brokerages recently issued reports on PANW. UBS AG reaffirmed a “neutral” rating and set a $140.00 target price (up from $130.00) on shares of Palo Alto Networks in a research report on Monday, June 5th. Evercore ISI set a $140.00 target price on Palo Alto Networks and gave the company a “hold” rating in a research report on Saturday, June 17th. Vetr lowered Palo Alto Networks from a “buy” rating to a “hold” rating and set a $140.90 target price on the stock. in a research report on Monday, July 10th. Citigroup Inc. raised Palo Alto Networks from a “neutral” rating to a “buy” rating and upped their target price for the company from $147.00 to $160.00 in a research report on Friday, July 7th. Finally, BidaskClub raised Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Thursday. Twenty-one investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $151.00.

In other news, Director James J. Goetz sold 30,000 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the completion of the sale, the director now directly owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.80% of the company’s stock.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its 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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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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