4,977 Shares in Palo Alto Networks, Inc. (PANW) Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC bought a new position in shares of Palo Alto Networks, Inc. (NYSE:PANW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,977 shares of the network technology company’s stock, valued at approximately $717,000.

Several other institutional investors have also modified their holdings of PANW. WESPAC Advisors SoCal LLC grew its position in Palo Alto Networks by 2.4% during the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the network technology company’s stock valued at $284,000 after buying an additional 50 shares during the period. Nordea Investment Management AB grew its position in Palo Alto Networks by 2.2% during the second quarter. Nordea Investment Management AB now owns 2,607 shares of the network technology company’s stock valued at $349,000 after buying an additional 55 shares during the period. Principal Financial Group Inc. grew its position in Palo Alto Networks by 1.2% during the second quarter. Principal Financial Group Inc. now owns 5,590 shares of the network technology company’s stock valued at $748,000 after buying an additional 68 shares during the period. YorkBridge Wealth Partners LLC grew its position in Palo Alto Networks by 1.4% during the second quarter. YorkBridge Wealth Partners LLC now owns 5,198 shares of the network technology company’s stock valued at $691,000 after buying an additional 70 shares during the period. Finally, Grandeur Peak Global Advisors LLC grew its position in Palo Alto Networks by 1.3% during the second quarter. Grandeur Peak Global Advisors LLC now owns 7,975 shares of the network technology company’s stock valued at $1,067,000 after buying an additional 100 shares during the period. 79.98% of the stock is owned by hedge funds and other institutional investors.

Palo Alto Networks, Inc. (NYSE PANW) opened at $147.26 on Friday. Palo Alto Networks, Inc. has a 52-week low of $107.31 and a 52-week high of $157.65.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The firm had revenue of $505.50 million for the quarter, compared to analyst estimates of $489.36 million. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. Palo Alto Networks’s quarterly revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. analysts predict that Palo Alto Networks, Inc. will post -0.37 earnings per share for the current year.

In other Palo Alto Networks news, President Mark Anderson sold 15,614 shares of Palo Alto Networks stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $144.16, for a total transaction of $2,250,914.24. Following the transaction, the president now directly owns 186,413 shares of the company’s stock, valued at $26,873,298.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Rene Bonvanie sold 16,596 shares of Palo Alto Networks stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $151.83, for a total transaction of $2,519,770.68. Following the transaction, the chief marketing officer now directly owns 95,584 shares in the company, valued at $14,512,518.72. The disclosure for this sale can be found here. Insiders have sold 298,784 shares of company stock worth $44,595,631 over the last ninety days. 4.80% of the stock is owned by insiders.

Several analysts recently commented on the stock. Dougherty & Co restated a “buy” rating and set a $180.00 price target (up previously from $170.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. FBN Securities upgraded shares of Palo Alto Networks from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, November 21st. Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research report on Tuesday, November 28th. BidaskClub upgraded shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Oppenheimer reiterated a “buy” rating and issued a $180.00 target price (up previously from $173.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $162.84.

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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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