Synovus Financial Corp trimmed its position in Palo Alto Networks, Inc. (NYSE:PANW) by 5.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,581 shares of the network technology company’s stock after selling 780 shares during the period. Synovus Financial Corp’s holdings in Palo Alto Networks were worth $1,958,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Capstone Asset Management Co. lifted its stake in Palo Alto Networks by 1.3% in the second quarter. Capstone Asset Management Co. now owns 2,284 shares of the network technology company’s stock valued at $306,000 after purchasing an additional 30 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Palo Alto Networks by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 16,971 shares of the network technology company’s stock valued at $2,271,000 after purchasing an additional 43 shares during the last quarter. WESPAC Advisors SoCal LLC raised its holdings in Palo Alto Networks by 2.4% during the 2nd quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the network technology company’s stock valued at $284,000 after acquiring an additional 50 shares during the period. Nordea Investment Management AB raised its holdings in Palo Alto Networks by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 2,607 shares of the network technology company’s stock valued at $349,000 after acquiring an additional 55 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Palo Alto Networks by 1.2% during the 2nd quarter. Principal Financial Group Inc. now owns 5,590 shares of the network technology company’s stock valued at $748,000 after acquiring an additional 68 shares during the period. 79.98% of the stock is owned by institutional investors and hedge funds.

Palo Alto Networks, Inc. (NYSE PANW) traded down $1.45 on Thursday, reaching $141.37. The company had a trading volume of 1,719,500 shares, compared to its average volume of 1,771,524. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $157.65.

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

In other Palo Alto Networks news, Director Stanley J. Meresman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $151.01, for a total transaction of $302,020.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Rene Bonvanie sold 16,596 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $151.83, for a total transaction of $2,519,770.68. Following the sale, the chief marketing officer now owns 95,584 shares of the company’s stock, valued at $14,512,518.72. The disclosure for this sale can be found here. In the last three months, insiders sold 346,785 shares of company stock worth $51,471,366. 4.80% of the stock is owned by insiders.

A number of brokerages have issued reports on PANW. Imperial Capital raised shares of Palo Alto Networks from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $137.00 to $165.00 in a report on Tuesday, September 5th. BidaskClub raised shares of Palo Alto Networks from a “strong sell” rating to a “sell” rating in a report on Thursday, August 17th. Argus raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $183.00 target price on the stock in a report on Tuesday, September 5th. Stifel Nicolaus reissued a “buy” rating and set a $180.00 target price on shares of Palo Alto Networks in a report on Tuesday, September 5th. Finally, William Blair reissued a “market perform” rating on shares of Palo Alto Networks in a report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $162.84.

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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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