Palo Alto Networks, Inc. (NYSE:PANW) Stock Position Lowered by SFE Investment Counsel

SFE Investment Counsel decreased its holdings in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,148 shares of the network technology company’s stock after selling 252 shares during the quarter. Palo Alto Networks comprises 2.3% of SFE Investment Counsel’s holdings, making the stock its 10th largest holding. SFE Investment Counsel’s holdings in Palo Alto Networks were worth $8,218,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Los Angeles Capital Management LLC boosted its position in shares of Palo Alto Networks by 84.7% during the first quarter. Los Angeles Capital Management LLC now owns 6,772 shares of the network technology company’s stock worth $2,181,000 after buying an additional 3,105 shares during the period. Alpha Cubed Investments LLC boosted its holdings in Palo Alto Networks by 4.3% during the 2nd quarter. Alpha Cubed Investments LLC now owns 31,877 shares of the network technology company’s stock valued at $11,828,000 after acquiring an additional 1,300 shares during the period. Stephens Investment Management Group LLC grew its position in Palo Alto Networks by 1.9% in the 1st quarter. Stephens Investment Management Group LLC now owns 128,716 shares of the network technology company’s stock valued at $41,454,000 after acquiring an additional 2,377 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Palo Alto Networks by 7.5% during the second quarter. Handelsbanken Fonder AB now owns 24,135 shares of the network technology company’s stock worth $8,955,000 after purchasing an additional 1,674 shares during the period. Finally, Wesbanco Bank Inc. raised its stake in shares of Palo Alto Networks by 22.1% in the second quarter. Wesbanco Bank Inc. now owns 22,117 shares of the network technology company’s stock valued at $8,206,000 after acquiring an additional 4,006 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

Shares of NYSE:PANW traded down $8.86 during midday trading on Wednesday, hitting $475.97. 17,123 shares of the stock were exchanged, compared to its average volume of 1,155,013. Palo Alto Networks, Inc. has a twelve month low of $219.34 and a twelve month high of $495.92. The company has a current ratio of 0.91, a quick ratio of 1.38 and a debt-to-equity ratio of 2.63. The company has a 50 day moving average price of $411.18 and a 200-day moving average price of $371.94. The stock has a market cap of $46.36 billion, a P/E ratio of -93.60 and a beta of 1.40.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Sunday, August 22nd. The network technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.16. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Palo Alto Networks had a negative net margin of 11.72% and a negative return on equity of 17.08%. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 earnings per share. On average, equities research analysts expect that Palo Alto Networks, Inc. will post -0.47 earnings per share for the current year.

A number of brokerages have recently commented on PANW. JPMorgan Chase & Co. boosted their price objective on Palo Alto Networks from $317.00 to $350.00 and gave the stock an “underweight” rating in a research report on Friday, May 21st. Cowen boosted their price target on shares of Palo Alto Networks from $425.00 to $475.00 and gave the stock an “outperform” rating in a report on Tuesday, August 24th. Credit Suisse Group raised their price objective on shares of Palo Alto Networks from $425.00 to $463.00 and gave the company an “outperform” rating in a report on Tuesday, August 24th. Morgan Stanley boosted their target price on shares of Palo Alto Networks from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Loop Capital raised their price target on Palo Alto Networks from $410.00 to $475.00 and gave the company a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-nine have given a buy rating to the company. According to data from MarketBeat, Palo Alto Networks has an average rating of “Buy” and a consensus price target of $506.13.

In other news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $369.01, for a total transaction of $4,428,120.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lee Klarich sold 6,870 shares of the stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $462.48, for a total value of $3,177,237.60. Following the transaction, the executive vice president now owns 265,453 shares in the company, valued at $122,766,703.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,184 shares of company stock worth $20,813,424. 2.30% of the stock is owned by insiders.

Palo Alto Networks Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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

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