Canada Pension Plan Investment Board reduced its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 791,213 shares of the network technology company’s stock after selling 15,900 shares during the period. Canada Pension Plan Investment Board’s holdings in Palo Alto Networks were worth $105,872,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Endurance Wealth Management Inc. increased its stake in Palo Alto Networks by 0.3% in the second quarter. Endurance Wealth Management Inc. now owns 3,610 shares of the network technology company’s stock valued at $483,000 after buying an additional 11 shares in the last quarter. HM Payson & Co. increased its stake in Palo Alto Networks by 0.3% in the first quarter. HM Payson & Co. now owns 6,755 shares of the network technology company’s stock valued at $761,000 after buying an additional 19 shares in the last quarter. NEXT Financial Group Inc increased its stake in Palo Alto Networks by 0.4% in the second quarter. NEXT Financial Group Inc now owns 4,969 shares of the network technology company’s stock valued at $665,000 after buying an additional 19 shares in the last quarter. Wedbush Securities Inc. increased its stake in Palo Alto Networks by 0.4% in the first quarter. Wedbush Securities Inc. now owns 5,437 shares of the network technology company’s stock valued at $613,000 after buying an additional 23 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in Palo Alto Networks by 1.3% in the second quarter. Capstone Asset Management Co. now owns 2,284 shares of the network technology company’s stock valued at $306,000 after buying an additional 30 shares in the last quarter. 80.46% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks, Inc. (PANW) opened at 129.89 on Thursday. Palo Alto Networks, Inc. has a 12 month low of $107.31 and a 12 month high of $165.69. The company’s 50-day moving average is $135.65 and its 200-day moving average is $128.43. The company’s market cap is $11.93 billion.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.06. The company had revenue of $431.80 million for the quarter, compared to the consensus estimate of $412.11 million. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. Palo Alto Networks’s revenue was up 24.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. On average, equities research analysts expect that Palo Alto Networks, Inc. will post $2.59 EPS for the current fiscal year.

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Several research firms have weighed in on PANW. UBS AG reissued a “neutral” rating and issued a $140.00 price target (up from $130.00) on shares of Palo Alto Networks in a research note on Monday, June 5th. Evercore ISI set a $140.00 price target on shares of Palo Alto Networks and gave the stock a “hold” rating in a research note on Saturday, June 17th. FBN Securities downgraded shares of Palo Alto Networks from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $135.00 to $115.00 in a research note on Monday, April 17th. Vetr downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $140.90 price target for the company. in a research note on Monday, July 10th. Finally, Monness Crespi & Hardt boosted their price target on shares of Palo Alto Networks from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $150.94.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the sale, the director now owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.80% of the stock is currently owned by insiders.

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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