Grandeur Peak Global Advisors LLC trimmed its holdings in Palo Alto Networks Inc (NYSE:PANW) by 7.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 8,175 shares of the network technology company’s stock after selling 675 shares during the quarter. Grandeur Peak Global Advisors LLC’s holdings in Palo Alto Networks were worth $1,680,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Canada Pension Plan Investment Board grew its position in Palo Alto Networks by 84.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,461,226 shares of the network technology company’s stock valued at $300,238,000 after purchasing an additional 670,016 shares during the last quarter. Northern Trust Corp grew its position in Palo Alto Networks by 1.8% during the 1st quarter. Northern Trust Corp now owns 1,089,570 shares of the network technology company’s stock valued at $197,778,000 after purchasing an additional 19,336 shares during the last quarter. Summit Trail Advisors LLC grew its position in Palo Alto Networks by 19,903.8% during the 1st quarter. Summit Trail Advisors LLC now owns 848,163 shares of the network technology company’s stock valued at $848,000 after purchasing an additional 843,923 shares during the last quarter. Bank of Montreal Can grew its position in Palo Alto Networks by 193.7% during the 2nd quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock valued at $112,061,000 after purchasing an additional 359,685 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Palo Alto Networks by 199.8% during the 2nd quarter. First Trust Advisors LP now owns 529,520 shares of the network technology company’s stock valued at $108,800,000 after purchasing an additional 352,914 shares during the last quarter. Institutional investors own 81.59% of the company’s stock.

PANW has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Palo Alto Networks to $220.00 and gave the company an “outperform” rating in a report on Wednesday, May 23rd. Deutsche Bank raised their price target on shares of Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 24th. Deutsche Bank raised their price target on shares of Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 24th. Barclays raised their price target on shares of Palo Alto Networks from $206.00 to $235.00 and gave the company an “overweight” rating in a report on Wednesday, May 30th. Finally, Stifel Nicolaus raised their price target on shares of Palo Alto Networks from $200.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, May 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Palo Alto Networks has a consensus rating of “Buy” and an average price target of $234.19.

NYSE PANW opened at $227.61 on Friday. Palo Alto Networks Inc has a 12 month low of $135.85 and a 12 month high of $234.35. The company has a market cap of $20.47 billion, a price-to-earnings ratio of -413.84, a PEG ratio of 19.69 and a beta of 0.83.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Thursday, September 6th. The network technology company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. The company had revenue of $658.10 million for the quarter, compared to analysts’ expectations of $634.14 million. Palo Alto Networks had a negative net margin of 6.51% and a negative return on equity of 4.57%. The firm’s revenue was up 29.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 EPS. equities analysts forecast that Palo Alto Networks Inc will post 0.48 earnings per share for the current year.

In other news, Director Mark D. Mclaughlin sold 40,000 shares of Palo Alto Networks stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $204.84, for a total transaction of $8,193,600.00. Following the sale, the director now owns 333,756 shares in the company, valued at $68,366,579.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kathleen Bonanno sold 5,818 shares of Palo Alto Networks stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $199.61, for a total transaction of $1,161,330.98. Following the sale, the chief financial officer now owns 42,780 shares in the company, valued at approximately $8,539,315.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 242,662 shares of company stock worth $49,447,386. Company insiders own 4.80% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

Further Reading: Book Value Per Share in Stock Trading

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Institutional Ownership by Quarter for Palo Alto Networks (NYSE:PANW)

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