Palo Alto Networks, Inc. (PANW) Shares Sold by Wafra Investment Advisory Group Inc. NY

Wafra Investment Advisory Group Inc. NY reduced its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 22.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,807 shares of the network technology company’s stock after selling 39,583 shares during the period. Palo Alto Networks accounts for approximately 0.9% of Wafra Investment Advisory Group Inc. NY’s holdings, making the stock its 12th biggest position. Wafra Investment Advisory Group Inc. NY owned approximately 0.15% of Palo Alto Networks worth $18,440,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Global X Management Co. LLC lifted its stake 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 during the period. Sun Life Financial INC lifted its stake in Palo Alto Networks by 785.0% during the second quarter. Sun Life Financial INC now owns 1,000 shares of the network technology company’s stock valued at $134,000 after purchasing an additional 887 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Palo Alto Networks by 30.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,396 shares of the network technology company’s stock valued at $188,000 after purchasing an additional 322 shares during the last quarter. OLD National Bancorp IN acquired a new stake in Palo Alto Networks during the second quarter valued at approximately $201,000. Finally, Shelton Capital Management acquired a new stake in Palo Alto Networks during the second quarter valued at approximately $201,000. 77.03% of the stock is owned by institutional investors.

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PANW has been the subject of several recent research reports. Evercore ISI set a $140.00 target price on shares of Palo Alto Networks and gave the company a “hold” rating in a research note on Saturday, June 17th. TheStreet raised shares of Palo Alto Networks from a “d+” rating to a “c-” rating in a research note on Friday, June 16th. ValuEngine raised shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Vetr raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $140.90 target price for the company in a research note on Tuesday, June 27th. Finally, Northland Securities initiated coverage on shares of Palo Alto Networks in a research note on Thursday, June 29th. They set an “outperform” rating and a $175.00 target price for the company. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $160.24.

Shares of Palo Alto Networks, Inc. (PANW) traded up 2.73% on Tuesday, hitting $150.41. 1,997,630 shares of the stock traded hands. The firm’s market capitalization is $13.81 billion. The firm’s 50 day moving average is $140.13 and its 200 day moving average is $128.93. Palo Alto Networks, Inc. has a 52 week low of $107.31 and a 52 week high of $165.69.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.92). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The business had revenue of $509.00 million during the quarter, compared to analyst estimates of $487.53 million. During the same quarter last year, the business earned $0.50 earnings per share. Palo Alto Networks’s revenue for the quarter was up 27.0% on a year-over-year basis. On average, analysts expect that Palo Alto Networks, Inc. will post $3.33 EPS for the current fiscal year.

In related news, insider Nir Zuk sold 2,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $145.01, for a total transaction of $290,020.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Mark Anderson sold 44,429 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $143.10, for a total transaction of $6,357,789.90. Following the transaction, the president now owns 176,290 shares in the company, valued at $25,227,099. The disclosure for this sale can be found here. Insiders sold 50,001 shares of company stock worth $7,165,254 over the last quarter. 4.80% of the stock is owned by corporate insiders.

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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