Palo Alto Networks Inc (NYSE:PANW) Shares Purchased by Front Row Advisors LLC

Front Row Advisors LLC increased its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 9.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,639 shares of the network technology company’s stock after acquiring an additional 574 shares during the period. Front Row Advisors LLC’s holdings in Palo Alto Networks were worth $1,353,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Palo Alto Networks by 2.2% during the second quarter. Vanguard Group Inc. now owns 8,343,076 shares of the network technology company’s stock worth $1,699,985,000 after purchasing an additional 179,388 shares during the last quarter. BlackRock Inc. raised its holdings in Palo Alto Networks by 4.2% during the second quarter. BlackRock Inc. now owns 5,683,627 shares of the network technology company’s stock worth $1,158,096,000 after purchasing an additional 230,170 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Palo Alto Networks by 13.2% during the second quarter. Renaissance Technologies LLC now owns 5,074,350 shares of the network technology company’s stock worth $1,033,950,000 after purchasing an additional 590,200 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Palo Alto Networks by 2.9% during the first quarter. Clearbridge Investments LLC now owns 2,734,047 shares of the network technology company’s stock worth $664,045,000 after purchasing an additional 77,503 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Palo Alto Networks by 10.1% during the second quarter. Morgan Stanley now owns 1,568,639 shares of the network technology company’s stock worth $319,627,000 after purchasing an additional 144,406 shares during the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on the company. Wells Fargo & Co reduced their price objective on Palo Alto Networks from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Credit Suisse Group lifted their price objective on Palo Alto Networks from $185.00 to $195.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. Bank of America reduced their price objective on Palo Alto Networks from $307.00 to $275.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. KeyCorp reduced their price objective on Palo Alto Networks from $280.00 to $250.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Finally, Northland Securities reaffirmed a “hold” rating and set a $240.00 price objective on shares of Palo Alto Networks in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Palo Alto Networks currently has an average rating of “Buy” and an average price target of $261.23.

In related news, Director Mark D. Mclaughlin sold 40,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $227.43, for a total value of $9,097,200.00. Following the completion of the transaction, the director now directly owns 240,236 shares in the company, valued at $54,636,873.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $210.66, for a total value of $2,527,920.00. Following the completion of the transaction, the executive vice president now owns 924,695 shares of the company’s stock, valued at $194,796,248.70. The disclosure for this sale can be found here. Insiders sold 119,220 shares of company stock valued at $26,002,076 over the last quarter. Insiders own 3.10% of the company’s stock.

Shares of NYSE PANW traded up $1.06 during trading on Tuesday, reaching $204.89. The company had a trading volume of 575,649 shares, compared to its average volume of 1,713,299. Palo Alto Networks Inc has a twelve month low of $160.08 and a twelve month high of $260.63. The stock has a market capitalization of $19.63 billion, a PE ratio of 325.22 and a beta of 0.94. The stock has a 50-day moving average price of $207.14 and a two-hundred day moving average price of $220.24. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.90.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.08). Palo Alto Networks had a positive return on equity of 4.82% and a negative net margin of 2.82%. The company had revenue of $805.80 million during the quarter, compared to analyst estimates of $803.56 million. During the same period last year, the firm earned $1.28 earnings per share. The business’s revenue was up 22.4% compared to the same quarter last year. On average, sell-side analysts predict that Palo Alto Networks Inc will post -0.05 EPS for the current year.

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.

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

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