Victory Capital Management Inc. reduced its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 251,838 shares of the network technology company’s stock after selling 18,040 shares during the period. Victory Capital Management Inc.’s holdings in Palo Alto Networks were worth $36,501,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Cerebellum GP LLC bought a new position in Palo Alto Networks in the fourth quarter worth about $127,000. Penserra Capital Management LLC bought a new position in Palo Alto Networks in the third quarter worth about $162,000. Benjamin F. Edwards & Company Inc. raised its stake in Palo Alto Networks by 495.2% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,232 shares of the network technology company’s stock worth $178,000 after buying an additional 1,025 shares in the last quarter. Shelton Capital Management bought a new position in Palo Alto Networks in the second quarter worth about $201,000. Finally, Scotia Capital Inc. bought a new position in Palo Alto Networks in the second quarter worth about $213,000. Institutional investors own 80.46% of the company’s stock.

A number of research firms recently issued reports on PANW. KeyCorp reissued an “overweight” rating and issued a $190.00 price target (up from $170.00) on shares of Palo Alto Networks in a research note on Monday, February 5th. Zacks Investment Research downgraded shares of Palo Alto Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Deutsche Bank raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Tuesday, January 23rd. Goldman Sachs Group downgraded shares of Palo Alto Networks from a “buy” rating to a “neutral” rating and set a $168.00 target price for the company. in a research note on Monday, January 22nd. Finally, Evercore ISI raised shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and set a $180.00 target price for the company in a research note on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirty-four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $167.39.

In other news, CMO Rene Bonvanie sold 16,596 shares of Palo Alto Networks stock in a transaction on Monday, November 27th. The shares were sold at an average price of $151.83, for a total transaction of $2,519,770.68. Following the transaction, the chief marketing officer now owns 95,584 shares in the company, valued at approximately $14,512,518.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kathleen Bonanno sold 2,831 shares of Palo Alto Networks stock in a transaction on Monday, November 27th. The stock was sold at an average price of $150.68, for a total transaction of $426,575.08. Following the transaction, the chief financial officer now owns 38,716 shares in the company, valued at approximately $5,833,726.88. The disclosure for this sale can be found here. Insiders sold 396,644 shares of company stock worth $59,381,588 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Shares of Palo Alto Networks Inc (NYSE PANW) opened at $153.87 on Friday. Palo Alto Networks Inc has a fifty-two week low of $107.31 and a fifty-two week high of $160.83.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The company had revenue of $505.50 million for the quarter, compared to analysts’ expectations of $489.36 million. During the same quarter last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 27.0% on a year-over-year basis. sell-side analysts predict that Palo Alto Networks Inc will post -0.37 earnings per share for the current fiscal year.

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Palo Alto Networks Company Profile

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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