Palo Alto Networks Inc (PANW) Holdings Cut by Quantitative Systematic Strategies LLC

Quantitative Systematic Strategies LLC lessened its holdings in Palo Alto Networks Inc (NYSE:PANW) by 31.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,871 shares of the network technology company’s stock after selling 841 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Palo Alto Networks were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of Palo Alto Networks by 55.1% during the 3rd quarter. First Trust Advisors LP now owns 204,302 shares of the network technology company’s stock worth $29,440,000 after acquiring an additional 72,573 shares during the period. Norway Savings Bank grew its stake in shares of Palo Alto Networks by 96.2% during the 4th quarter. Norway Savings Bank now owns 3,130 shares of the network technology company’s stock worth $454,000 after acquiring an additional 1,535 shares during the period. Cambridge Trust Co. grew its stake in shares of Palo Alto Networks by 48.5% during the 3rd quarter. Cambridge Trust Co. now owns 137,115 shares of the network technology company’s stock worth $19,758,000 after acquiring an additional 44,759 shares during the period. Green Square Capital LLC grew its stake in shares of Palo Alto Networks by 30.4% during the 3rd quarter. Green Square Capital LLC now owns 4,027 shares of the network technology company’s stock worth $580,000 after acquiring an additional 939 shares during the period. Finally, Trellus Management Company LLC bought a new position in shares of Palo Alto Networks during the 3rd quarter worth $461,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Shares of Palo Alto Networks Inc (NYSE:PANW) opened at $153.87 on Friday. Palo Alto Networks Inc has a 1-year low of $107.31 and a 1-year high of $160.83.

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

PANW has been the subject of several research reports. William Blair upgraded Palo Alto Networks from a “market perform” rating to an “outperform” rating in a research note on Monday, December 4th. Zacks Investment Research downgraded Palo Alto Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Evercore ISI set a $145.00 price target on Palo Alto Networks and gave the stock a “hold” rating in a research note on Thursday, November 16th. FBN Securities upgraded Palo Alto Networks from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, November 21st. Finally, BidaskClub cut Palo Alto Networks from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and thirty-four have given a buy rating to the stock. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus target price of $167.39.

In other news, Director Stanley J. Meresman sold 2,000 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $159.00, for a total transaction of $318,000.00. Following the transaction, the director now directly owns 13,834 shares in the company, valued at approximately $2,199,606. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen Bonanno sold 2,831 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $150.68, for a total value of $426,575.08. Following the transaction, the chief financial officer now owns 38,716 shares in the company, valued at $5,833,726.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 396,644 shares of company stock worth $59,381,588. Insiders own 4.80% of the company’s stock.

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About Palo Alto Networks

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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