Voya Investment Management LLC Sells 619 Shares of Palo Alto Networks, Inc. (PANW)

Voya Investment Management LLC reduced its holdings in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,330 shares of the network technology company’s stock after selling 619 shares during the period. Voya Investment Management LLC’s holdings in Palo Alto Networks were worth $4,594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Waldron LP increased its position in shares of Palo Alto Networks by 105.2% in the 1st quarter. Waldron LP now owns 12,850 shares of the network technology company’s stock valued at $1,749,000 after purchasing an additional 6,587 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Palo Alto Networks by 9.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 240,802 shares of the network technology company’s stock valued at $27,134,000 after purchasing an additional 21,780 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Palo Alto Networks by 83.8% in the 1st quarter. Prudential Financial Inc. now owns 5,220 shares of the network technology company’s stock valued at $588,000 after purchasing an additional 2,380 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Palo Alto Networks by 40.0% in the 1st quarter. Neuberger Berman Group LLC now owns 53,419 shares of the network technology company’s stock valued at $6,019,000 after purchasing an additional 15,269 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Palo Alto Networks by 5.5% in the 1st quarter. Teachers Advisors LLC now owns 287,461 shares of the network technology company’s stock valued at $32,391,000 after purchasing an additional 15,024 shares during the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Palo Alto Networks, Inc. (PANW) opened at 148.24 on Friday. Palo Alto Networks, Inc. has a 12-month low of $107.31 and a 12-month high of $165.69. The stock’s market capitalization is $13.61 billion. The firm’s 50-day moving average is $141.66 and its 200 day moving average is $129.49.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Thursday, August 31st. The network technology company reported ($0.13) earnings per share 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 period in the previous year, the company posted $0.50 earnings per share. Palo Alto Networks’s revenue was up 27.0% compared to the same quarter last year. Equities research analysts anticipate that Palo Alto Networks, Inc. will post $3.33 earnings per share for the current year.

In other Palo Alto Networks news, President Mark Anderson sold 44,429 shares of the business’s stock in a transaction dated 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 sale, the president now owns 176,290 shares in the company, valued at approximately $25,227,099. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Carl M. Eschenbach sold 1,572 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $144.99, for a total value of $227,924.28. Following the sale, the director now owns 3,619 shares in the company, valued at approximately $524,718.81. The disclosure for this sale can be found here. Insiders sold a total of 254,744 shares of company stock valued at $37,804,516 over the last three months. 4.80% of the stock is owned by corporate insiders.

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PANW has been the topic of a number of recent analyst reports. BidaskClub raised shares of Palo Alto Networks from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 17th. Rosenblatt Securities reissued a “buy” rating and issued a $160.00 price objective on shares of Palo Alto Networks in a research report on Friday, September 1st. UBS AG set a $140.00 price objective on shares of Palo Alto Networks and gave the company a “hold” rating in a research report on Tuesday, August 29th. Citigroup Inc. reissued a “buy” rating and issued a $168.00 price objective (up from $160.00) on shares of Palo Alto Networks in a research report on Friday, September 1st. Finally, Maxim Group reissued a “buy” rating and issued a $168.00 price objective on shares of Palo Alto Networks in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirty-one have assigned a buy rating to the company. Palo Alto Networks currently has an average rating of “Buy” and an average target price of $160.33.

Palo Alto Networks 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.

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

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