Morse Asset Management Inc lowered its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 63.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,672 shares of the network technology company’s stock after selling 8,074 shares during the period. Morse Asset Management Inc’s holdings in Palo Alto Networks were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Alpha Omega Wealth Management LLC bought a new stake in Palo Alto Networks in the first quarter worth $26,000. Manchester Capital Management LLC bought a new stake in Palo Alto Networks in the first quarter worth $26,000. C J Advisory Inc bought a new stake in Palo Alto Networks in the first quarter worth $30,000. Cable Hill Partners LLC increased its position in Palo Alto Networks by 226.1% in the first quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock worth $37,000 after purchasing an additional 104 shares during the last quarter. Finally, Arrow Financial Corp bought a new stake in Palo Alto Networks in the first quarter worth $40,000. Hedge funds and other institutional investors own 79.51% of the company’s stock.

In related news, Director Mark D. Mclaughlin sold 40,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $197.17, for a total value of $7,886,800.00. Following the completion of the transaction, the director now directly owns 245,221 shares of the company’s stock, valued at approximately $48,350,224.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rene Bonvanie sold 9,611 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $220.00, for a total value of $2,114,420.00. Following the completion of the transaction, the executive vice president now directly owns 32,082 shares of the company’s stock, valued at $7,058,040. The disclosure for this sale can be found here. Insiders have sold a total of 186,092 shares of company stock worth $39,067,840 in the last quarter. Insiders own 3.10% of the company’s stock.

Palo Alto Networks stock traded up $6.17 during trading hours on Tuesday, reaching $222.47. The stock had a trading volume of 39,198 shares, compared to its average volume of 953,491. The company has a market capitalization of $20.76 billion, a P/E ratio of -404.47, a price-to-earnings-growth ratio of 7.30 and a beta of 0.90. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.97. The stock has a 50 day moving average of $215.68. Palo Alto Networks Inc has a 52 week low of $160.08 and a 52 week high of $260.63.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Wednesday, May 29th. The network technology company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.06). Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The firm had revenue of $726.60 million during the quarter, compared to analysts’ expectations of $704.89 million. During the same quarter in the prior year, the company earned $0.99 EPS. Palo Alto Networks’s quarterly revenue was up 28.0% on a year-over-year basis. On average, equities analysts anticipate that Palo Alto Networks Inc will post 0.87 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the stock. Mizuho reduced their price target on shares of Palo Alto Networks from $265.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Cowen began coverage on shares of Palo Alto Networks in a research report on Thursday, May 23rd. They issued a “market perform” rating and a $230.00 price target on the stock. Jefferies Financial Group dropped their price objective on shares of Palo Alto Networks from $296.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Robert W. Baird reaffirmed an “average” rating and set a $275.00 price objective on shares of Palo Alto Networks in a research note on Thursday, July 11th. Finally, Zacks Investment Research lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $263.03.

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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