Janney Montgomery Scott LLC lessened its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 11.3% during the 1st quarter, Holdings Channel reports. The firm owned 2,070 shares of the network technology company’s stock after selling 264 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Palo Alto Networks were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Northern Trust Corp boosted its position in shares of Palo Alto Networks by 3.5% in the fourth quarter. Northern Trust Corp now owns 1,135,398 shares of the network technology company’s stock valued at $213,853,000 after acquiring an additional 38,069 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Palo Alto Networks by 11.1% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 1,131 shares of the network technology company’s stock valued at $213,000 after acquiring an additional 113 shares during the period. M&T Bank Corp boosted its position in shares of Palo Alto Networks by 0.9% in the fourth quarter. M&T Bank Corp now owns 17,460 shares of the network technology company’s stock valued at $3,289,000 after acquiring an additional 154 shares during the period. Premier Asset Management LLC boosted its position in shares of Palo Alto Networks by 1.4% in the fourth quarter. Premier Asset Management LLC now owns 68,585 shares of the network technology company’s stock valued at $12,918,000 after acquiring an additional 945 shares during the period. Finally, C J Advisory Inc bought a new stake in shares of Palo Alto Networks in the first quarter valued at approximately $30,000.

Several equities research analysts have recently weighed in on PANW shares. Zacks Investment Research cut Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Northland Securities cut Palo Alto Networks from an “outperform” rating to a “market perform” rating and set a $240.00 price objective for the company. in a research report on Tuesday, February 26th. UBS Group increased their price objective on Palo Alto Networks from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, February 20th. Stifel Nicolaus increased their price objective on Palo Alto Networks from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, February 27th. Finally, Wells Fargo & Co increased their price objective on Palo Alto Networks from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $268.45.

In other Palo Alto Networks news, EVP Lee Klarich sold 4,500 shares of Palo Alto Networks stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $234.11, for a total transaction of $1,053,495.00. Following the completion of the transaction, the executive vice president now directly owns 295,449 shares of the company’s stock, valued at $69,167,565.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nir Zuk sold 30,000 shares of Palo Alto Networks stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $234.44, for a total value of $7,033,200.00. Following the transaction, the executive vice president now directly owns 990,860 shares of the company’s stock, valued at $232,297,218.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 242,844 shares of company stock valued at $58,586,545. 3.10% of the stock is owned by company insiders.

Shares of PANW stock opened at $216.26 on Friday. The firm has a market capitalization of $20.37 billion, a P/E ratio of -393.20, a PEG ratio of 10.18 and a beta of 0.84. Palo Alto Networks Inc has a one year low of $160.08 and a one year high of $260.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.87 and a quick ratio of 1.87.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Tuesday, February 26th. The network technology company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.05 by $0.20. The firm had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $682.32 million. Palo Alto Networks had a positive return on equity of 4.69% and a negative net margin of 3.47%. Palo Alto Networks’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period last year, the business earned $0.97 earnings per share. As a group, sell-side analysts predict that Palo Alto Networks Inc will post 0.96 earnings per share for the current fiscal year.

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About Palo Alto Networks

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.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

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

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