Janney Montgomery Scott LLC increased its holdings in Palo Alto Networks Inc (NYSE:PANW) by 12.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,876 shares of the network technology company’s stock after purchasing an additional 1,113 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Palo Alto Networks were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eminence Capital LP bought a new stake in Palo Alto Networks during the 1st quarter valued at approximately $87,267,000. Harvard Management Co. Inc. boosted its position in Palo Alto Networks by 31.6% during the 1st quarter. Harvard Management Co. Inc. now owns 1,181,983 shares of the network technology company’s stock valued at $193,798,000 after acquiring an additional 283,710 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Palo Alto Networks by 455.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 280,529 shares of the network technology company’s stock valued at $64,429,000 after acquiring an additional 230,065 shares in the last quarter. Artemis Investment Management LLP bought a new stake in Palo Alto Networks during the 1st quarter valued at approximately $24,353,000. Finally, First Trust Advisors LP boosted its position in Palo Alto Networks by 41.1% during the 1st quarter. First Trust Advisors LP now owns 509,155 shares of the network technology company’s stock valued at $83,481,000 after acquiring an additional 148,373 shares in the last quarter. 77.40% of the stock is currently owned by institutional investors.

In other news, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $237.09, for a total transaction of $2,845,080.00. Following the completion of the sale, the executive vice president now owns 974,275 shares of the company’s stock, valued at approximately $230,990,859.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark D. Mclaughlin sold 950 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $249.00, for a total transaction of $236,550.00. Following the sale, the director now directly owns 97,304 shares of the company’s stock, valued at approximately $24,228,696. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,950 shares of company stock valued at $5,835,270. Company insiders own 2.30% of the company’s stock.

Shares of PANW opened at $255.92 on Friday. The firm has a market cap of $25.52 billion, a PE ratio of -108.44 and a beta of 1.19. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 2.45. The firm has a fifty day simple moving average of $236.17 and a two-hundred day simple moving average of $214.78. Palo Alto Networks Inc has a 1-year low of $125.47 and a 1-year high of $255.84.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Thursday, May 21st. The network technology company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $1.54. The business had revenue of $869.40 million during the quarter, compared to analyst estimates of $831.52 million. Palo Alto Networks had a negative net margin of 7.01% and a negative return on equity of 6.50%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 EPS. As a group, research analysts forecast that Palo Alto Networks Inc will post -0.55 EPS for the current fiscal year.

Several analysts have weighed in on PANW shares. OTR Global cut Palo Alto Networks to a “positive” rating in a research report on Friday, May 8th. Mizuho lifted their price objective on Palo Alto Networks from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Dougherty & Co upgraded shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Tuesday, May 19th. SunTrust Banks lifted their target price on shares of Palo Alto Networks from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, May 18th. Finally, Bank of America reiterated a “neutral” rating and set a $255.00 target price (up from $200.00) on shares of Palo Alto Networks in a report on Friday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $256.60.

Palo Alto Networks Company 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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