Hartline Investment Corp reduced its holdings in Palo Alto Networks Inc (NYSE:PANW) by 9.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,226 shares of the network technology company’s stock after selling 420 shares during the period. Hartline Investment Corp’s holdings in Palo Alto Networks were worth $952,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sumitomo Mitsui Financial Group Inc. raised its stake in Palo Alto Networks by 1,256.6% during the third quarter. Sumitomo Mitsui Financial Group Inc. now owns 1,533 shares of the network technology company’s stock worth $346,000 after purchasing an additional 1,420 shares during the period. Jupiter Asset Management Ltd. raised its stake in Palo Alto Networks by 45.3% during the third quarter. Jupiter Asset Management Ltd. now owns 120,286 shares of the network technology company’s stock worth $27,093,000 after purchasing an additional 37,475 shares during the period. Janus Henderson Group PLC raised its stake in Palo Alto Networks by 183.2% during the third quarter. Janus Henderson Group PLC now owns 269,965 shares of the network technology company’s stock worth $60,812,000 after purchasing an additional 174,644 shares during the period. Crossmark Global Holdings Inc. raised its stake in Palo Alto Networks by 563.8% during the third quarter. Crossmark Global Holdings Inc. now owns 10,475 shares of the network technology company’s stock worth $2,360,000 after purchasing an additional 8,897 shares during the period. Finally, Rational Advisors LLC raised its stake in Palo Alto Networks by 18,331.6% during the third quarter. Rational Advisors LLC now owns 3,502 shares of the network technology company’s stock worth $789,000 after purchasing an additional 3,483 shares during the period. 81.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PANW stock opened at $169.61 on Monday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $16.00 billion, a P/E ratio of -308.38, a price-to-earnings-growth ratio of 11.91 and a beta of 1.22. Palo Alto Networks Inc has a fifty-two week low of $139.37 and a fifty-two week high of $239.50.

Palo Alto Networks (NYSE:PANW) last announced its quarterly earnings data on Thursday, September 6th. The network technology company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.11. The firm had revenue of $658.10 million during 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 4.12%. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. As a group, research analysts predict that Palo Alto Networks Inc will post 0.61 EPS for the current year.

In other Palo Alto Networks news, Director Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $235.24, for a total transaction of $9,409,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathleen Bonanno sold 467 shares of the business’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total transaction of $99,485.01. Following the transaction, the chief financial officer now owns 34,954 shares of the company’s stock, valued at approximately $7,446,250.62. The disclosure for this sale can be found here. Insiders sold 285,178 shares of company stock valued at $62,189,621 in the last 90 days. Company insiders own 3.10% of the company’s stock.

A number of equities analysts have commented on PANW shares. Zacks Investment Research downgraded shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. UBS Group lifted their price target on shares of Palo Alto Networks from $212.00 to $232.00 and gave the company a “neutral” rating in a research report on Friday, September 7th. Citigroup lifted their price target on shares of Palo Alto Networks from $237.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, September 7th. Royal Bank of Canada lifted their price target on shares of Palo Alto Networks to $250.00 in a research report on Friday, September 7th. Finally, Evercore ISI reiterated a “buy” rating and set a $270.00 price target on shares of Palo Alto Networks in a research report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and an average price target of $240.20.

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Palo Alto Networks Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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

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