Glynn Capital Management LLC lowered its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 27.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,007 shares of the network technology company’s stock after selling 32,806 shares during the quarter. Palo Alto Networks comprises 3.9% of Glynn Capital Management LLC’s portfolio, making the stock its 11th largest position. Glynn Capital Management LLC’s holdings in Palo Alto Networks were worth $21,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Northern Trust Corp raised its stake in shares of Palo Alto Networks by 3.5% in the fourth quarter. Northern Trust Corp now owns 1,135,398 shares of the network technology company’s stock valued at $213,853,000 after acquiring an additional 38,069 shares during the last quarter. Navellier & Associates Inc boosted its position in shares of Palo Alto Networks by 23.9% during the 4th quarter. Navellier & Associates Inc now owns 3,317 shares of the network technology company’s stock worth $625,000 after acquiring an additional 639 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in shares of Palo Alto Networks by 11.1% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 1,131 shares of the network technology company’s stock worth $213,000 after acquiring an additional 113 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Palo Alto Networks by 0.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 27,497 shares of the network technology company’s stock worth $5,179,000 after acquiring an additional 95 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Palo Alto Networks by 0.9% during the 4th quarter. M&T Bank Corp now owns 17,460 shares of the network technology company’s stock worth $3,289,000 after acquiring an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

In other news, EVP Nir Zuk sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $234.44, for a total value of $7,033,200.00. Following the sale, the executive vice president now owns 990,860 shares of the company’s stock, valued at $232,297,218.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Jean Compeau sold 1,701 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $235.37, for a total transaction of $400,364.37. Following the completion of the sale, the chief accounting officer now directly owns 23,836 shares in the company, valued at approximately $5,610,279.32. The disclosure for this sale can be found here. Insiders have sold 242,844 shares of company stock valued at $58,586,545 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Shares of NYSE PANW traded down $4.54 during mid-day trading on Wednesday, reaching $222.31. 19,799 shares of the company’s stock traded hands, compared to its average volume of 918,297. The stock has a market capitalization of $21.07 billion, a P/E ratio of -403.51, a P/E/G ratio of 10.04 and a beta of 0.84. Palo Alto Networks Inc has a 1-year low of $160.08 and a 1-year high of $260.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.87 and a quick ratio of 1.87.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings data on Tuesday, February 26th. The network technology company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.20. The firm had revenue of $711.00 million during the quarter, compared to analysts’ expectations of $682.32 million. Palo Alto Networks had a negative net margin of 3.47% and a positive return on equity of 4.69%. The business’s revenue was up 30.3% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. As a group, equities research analysts anticipate that Palo Alto Networks Inc will post 0.96 earnings per share for the current fiscal year.

PANW has been the subject of several research reports. Zacks Investment Research raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $236.00 price objective for the company in a research note on Friday, January 25th. UBS Group raised shares of Palo Alto Networks from a “neutral” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Tuesday, January 22nd. Robert W. Baird reaffirmed a “buy” rating on shares of Palo Alto Networks in a research note on Wednesday, February 27th. Jefferies Financial Group reaffirmed a “buy” rating and set a $296.00 price target on shares of Palo Alto Networks in a research note on Wednesday, February 27th. Finally, Deutsche Bank raised their price target on shares of Palo Alto Networks from $265.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $268.75.

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Palo Alto Networks Profile

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.

Further Reading: Stock Split

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

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