Seven Eight Capital LP lowered its position in Palo Alto Networks, Inc. (NYSE:PANW) by 28.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,961 shares of the network technology company’s stock after selling 7,200 shares during the period. Seven Eight Capital LP’s holdings in Palo Alto Networks were worth $2,403,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PANW. WFG Advisors LP raised its position in shares of Palo Alto Networks by 5.9% in the 1st quarter. WFG Advisors LP now owns 900 shares of the network technology company’s stock worth $101,000 after acquiring an additional 50 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Palo Alto Networks by 31.9% in the 1st quarter. Global X Management Co. LLC now owns 939 shares of the network technology company’s stock worth $106,000 after acquiring an additional 227 shares in the last quarter. First Interstate Bank raised its position in shares of Palo Alto Networks by 130.7% in the 1st quarter. First Interstate Bank now owns 1,375 shares of the network technology company’s stock worth $155,000 after acquiring an additional 779 shares in the last quarter. Salem Investment Counselors Inc. bought a new position in shares of Palo Alto Networks in the 1st quarter worth approximately $191,000. Finally, OLD National Bancorp IN bought a new position in shares of Palo Alto Networks in the 2nd quarter worth approximately $201,000. 77.05% of the stock is owned by hedge funds and other institutional investors.

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Several research analysts have recently issued reports on PANW shares. BidaskClub raised Palo Alto Networks from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th. Vetr lowered Palo Alto Networks from a “strong-buy” rating to a “hold” rating and set a $137.50 target price for the company. in a research report on Thursday, June 1st. Rosenblatt Securities reissued a “buy” rating and issued a $160.00 target price on shares of Palo Alto Networks in a research report on Friday, September 1st. UBS AG set a $140.00 target price on Palo Alto Networks and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $168.00 target price (up previously from $160.00) on shares of Palo Alto Networks in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and an average target price of $157.91.

Shares of Palo Alto Networks, Inc. (PANW) traded up 0.41% during trading on Wednesday, hitting $144.15. The stock had a trading volume of 143,716 shares. The firm has a 50 day moving average price of $134.15 and a 200 day moving average price of $125.75. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69. The firm’s market cap is $13.24 billion.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative return on equity of 19.72% and a negative net margin of 12.57%. The firm had revenue of $509.00 million for the quarter, compared to analysts’ expectations of $487.53 million. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue was up 27.0% compared to the same quarter last year. On average, equities analysts expect that Palo Alto Networks, Inc. will post $3.34 earnings per share for the current fiscal year.

In related news, Director James J. Goetz sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the transaction, the director now directly owns 271,645 shares of the company’s stock, valued at approximately $37,478,860.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carl M. Eschenbach sold 1,572 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $144.99, for a total transaction of $227,924.28. Following the completion of the transaction, the director now directly owns 3,619 shares in the company, valued at $524,718.81. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.

Palo Alto Networks Company 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.

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

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