Palo Alto Networks, Inc. (PANW) Shares Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lifted its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,476 shares of the network technology company’s stock after acquiring an additional 1,180 shares during the quarter. Palo Alto Networks comprises about 1.3% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 27th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Palo Alto Networks were worth $5,833,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PANW. Prudential Financial Inc. grew its position in Palo Alto Networks by 83.8% in the first quarter. Prudential Financial Inc. now owns 5,220 shares of the network technology company’s stock worth $588,000 after buying an additional 2,380 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Palo Alto Networks by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 88,509 shares of the network technology company’s stock worth $9,974,000 after buying an additional 5,399 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Palo Alto Networks in the second quarter worth approximately $415,000. Capstone Asset Management Co. grew its position in Palo Alto Networks by 1.3% in the second quarter. Capstone Asset Management Co. now owns 2,284 shares of the network technology company’s stock worth $306,000 after buying an additional 30 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in Palo Alto Networks by 0.9% in the second quarter. Fisher Asset Management LLC now owns 7,700 shares of the network technology company’s stock worth $1,030,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 77.50% of the company’s stock.

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Several research firms have issued reports on PANW. Piper Jaffray Companies set a $155.00 price target on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Sunday. Dougherty & Co raised their price objective on shares of Palo Alto Networks from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, September 28th. Robert W. Baird reaffirmed a “hold” rating and issued a $149.00 price objective on shares of Palo Alto Networks in a research note on Thursday, September 28th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $173.00 price objective on shares of Palo Alto Networks in a research note on Thursday, September 28th. Finally, ValuEngine raised shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have issued a buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and a consensus target price of $160.33.

In other Palo Alto Networks news, Director Carl M. Eschenbach sold 1,572 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $144.99, for a total value of $227,924.28. Following the transaction, the director now directly owns 3,619 shares in the company, valued at $524,718.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nir Zuk sold 2,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $145.01, for a total transaction of $290,020.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 284,744 shares of company stock worth $42,239,296. 4.80% of the stock is owned by company insiders.

Shares of Palo Alto Networks, Inc. (PANW) traded down $1.68 during trading on Tuesday, hitting $138.67. 1,093,200 shares of the stock traded hands, compared to its average volume of 1,738,309. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.69. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $165.69.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The business had revenue of $509.00 million for the quarter, compared to analyst estimates of $487.53 million. During the same quarter last year, the firm posted $0.50 earnings per share. Palo Alto Networks’s revenue was up 27.0% on a year-over-year basis. research analysts forecast that Palo Alto Networks, Inc. will post -0.5 earnings per share for the current year.

Palo Alto Networks Profile

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.

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

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