Malaga Cove Capital LLC Has $1.53 Million Stake in Palo Alto Networks, Inc. (NYSE:PANW)

Malaga Cove Capital LLC reduced its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,355 shares of the network technology company’s stock after selling 13 shares during the period. Malaga Cove Capital LLC’s holdings in Palo Alto Networks were worth $1,532,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PANW. WFG Advisors LP boosted its position in Palo Alto Networks by 5.9% in the first quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock valued at $101,000 after buying an additional 50 shares in the last quarter. Global X Management Co. LLC boosted its position in Palo Alto Networks by 31.9% in the first quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock valued at $106,000 after buying an additional 227 shares in the last quarter. Integrated Investment Consultants LLC purchased a new position in Palo Alto Networks during the first quarter valued at about $120,000. First Interstate Bank boosted its position in Palo Alto Networks by 130.7% in the first quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock valued at $155,000 after buying an additional 779 shares in the last quarter. Finally, Salem Investment Counselors Inc. bought a new position in Palo Alto Networks during the first quarter valued at $191,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Palo Alto Networks, Inc. (NYSE:PANW) traded down 0.4953% on Tuesday, hitting $130.3312. The stock had a trading volume of 476,201 shares. Palo Alto Networks, Inc. has a 52-week low of $107.31 and a 52-week high of $165.69. The firm’s market cap is $11.97 billion. The company’s 50 day moving average price is $136.07 and its 200 day moving average price is $128.68.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm had revenue of $431.80 million during the quarter, compared to analysts’ expectations of $412.11 million. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s revenue was up 24.9% compared to the same quarter last year. Analysts expect that Palo Alto Networks, Inc. will post $2.59 EPS for the current year.

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A number of equities research analysts have recently commented on PANW shares. BidaskClub raised Palo Alto Networks from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. UBS AG restated a “neutral” rating and issued a $140.00 price target (up from $130.00) on shares of Palo Alto Networks in a research note on Monday, June 5th. Susquehanna Bancshares Inc assumed coverage on Palo Alto Networks in a research note on Wednesday, June 7th. They issued a “neutral” rating and a $145.00 price target for the company. Barclays PLC reiterated an “overweight” rating and set a $158.00 target price (up from $145.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. Finally, Citigroup Inc. restated a “neutral” rating and issued a $147.00 price target (up from $130.00) on shares of Palo Alto Networks in a research note on Thursday, June 1st. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating and twenty-seven have issued a buy rating to the company. Palo Alto Networks has a consensus rating of “Buy” and an average price target of $150.94.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of Palo Alto Networks stock in a transaction on Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the transaction, the director now owns 271,645 shares of the company’s stock, valued at $37,478,860.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.80% of the stock is currently owned by insiders.

About Palo Alto Networks

Palo Alto Networks, Inc offers a next-generation security platform. The Company’s security platform consists of three elements: Next-Generation Firewall, Advanced Endpoint Protection and Threat Intelligence Cloud. Its Next-Generation Firewall delivers application, user and content visibility and control, as well as protection against network-based cyber threats integrated within the firewall through its hardware and software architecture.

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

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