Prudential Financial Inc. Sells 1,310 Shares of Palo Alto Networks Inc (NYSE:PANW)

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Prudential Financial Inc. lessened its holdings in Palo Alto Networks Inc (NYSE:PANW) by 17.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,110 shares of the network technology company’s stock after selling 1,310 shares during the quarter. Prudential Financial Inc.’s holdings in Palo Alto Networks were worth $1,245,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BSW Wealth Partners bought a new stake in shares of Palo Alto Networks in the first quarter valued at about $58,000. Cumberland Partners Ltd lifted its position in Palo Alto Networks by 33.3% during the second quarter. Cumberland Partners Ltd now owns 2,000 shares of the network technology company’s stock worth $408,000 after purchasing an additional 500 shares during the period. Wellington Shields Capital Management LLC lifted its position in Palo Alto Networks by 13.5% during the first quarter. Wellington Shields Capital Management LLC now owns 8,400 shares of the network technology company’s stock worth $2,040,000 after purchasing an additional 1,000 shares during the period. Toronto Dominion Bank lifted its position in Palo Alto Networks by 36.6% during the first quarter. Toronto Dominion Bank now owns 17,085 shares of the network technology company’s stock worth $4,149,000 after purchasing an additional 4,577 shares during the period. Finally, Icon Wealth Partners LLC bought a new stake in Palo Alto Networks during the first quarter worth about $84,000. 79.37% of the stock is owned by institutional investors.

NYSE:PANW traded up $1.38 on Friday, reaching $210.27. 156,815 shares of the stock traded hands, compared to its average volume of 1,642,815. The firm has a market capitalization of $20.63 billion, a price-to-earnings ratio of 333.76, a price-to-earnings-growth ratio of 19.49 and a beta of 0.94. The company’s 50 day moving average is $209.88 and its 200-day moving average is $222.00. 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 Inc has a 1-year low of $160.08 and a 1-year high of $260.63.

Palo Alto Networks (NYSE:PANW) last released its earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). Palo Alto Networks had a negative net margin of 2.82% and a positive return on equity of 4.82%. The firm had revenue of $805.80 million for the quarter, compared to analyst estimates of $803.56 million. During the same period in the prior year, the company posted $1.28 EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. On average, equities research analysts forecast that Palo Alto Networks Inc will post 0.47 EPS for the current fiscal year.

In other Palo Alto Networks news, EVP Nir Zuk sold 12,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $204.88, for a total transaction of $2,458,560.00. Following the transaction, the executive vice president now directly owns 924,857 shares in the company, valued at approximately $189,484,702.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rene Bonvanie sold 9,611 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $220.00, for a total value of $2,114,420.00. Following the transaction, the executive vice president now owns 32,082 shares in the company, valued at $7,058,040. The disclosure for this sale can be found here. Over the last quarter, insiders sold 171,220 shares of company stock worth $36,666,236. 3.10% of the stock is owned by company insiders.

Several research firms recently weighed in on PANW. Cowen began coverage on shares of Palo Alto Networks in a research report on Thursday, May 23rd. They set a “market perform” rating and a $230.00 price objective for the company. Wedbush reaffirmed a “buy” rating and set a $275.00 price objective on shares of Palo Alto Networks in a research report on Thursday, September 5th. Maxim Group upped their price objective on shares of Palo Alto Networks from $304.00 to $316.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Robert W. Baird set a $275.00 price objective on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Sunday, September 15th. Finally, Deutsche Bank cut their price objective on shares of Palo Alto Networks from $305.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $261.23.

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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