Castle Rock Wealth Management LLC lessened its holdings in Palo Alto Networks Inc (NYSE:PANW) by 17.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,719 shares of the network technology company’s stock after selling 791 shares during the period. Palo Alto Networks comprises approximately 1.0% of Castle Rock Wealth Management LLC’s holdings, making the stock its 25th biggest position. Castle Rock Wealth Management LLC’s holdings in Palo Alto Networks were worth $764,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PANW. Bank of Montreal Can increased its holdings in Palo Alto Networks by 193.7% in the 2nd quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock worth $112,061,000 after acquiring an additional 359,685 shares in the last quarter. Atria Investments LLC grew its holdings in Palo Alto Networks by 37.0% during the 2nd quarter. Atria Investments LLC now owns 3,289 shares of the network technology company’s stock valued at $676,000 after buying an additional 889 shares in the last quarter. Engineers Gate Manager LP grew its holdings in Palo Alto Networks by 11.9% during the 1st quarter. Engineers Gate Manager LP now owns 40,984 shares of the network technology company’s stock valued at $7,439,000 after buying an additional 4,358 shares in the last quarter. IBM Retirement Fund purchased a new stake in Palo Alto Networks during the 1st quarter valued at approximately $480,000. Finally, Montecito Bank & Trust grew its holdings in Palo Alto Networks by 69.7% during the 2nd quarter. Montecito Bank & Trust now owns 1,887 shares of the network technology company’s stock valued at $388,000 after buying an additional 775 shares in the last quarter. Hedge funds and other institutional investors own 81.57% of the company’s stock.

A number of equities research analysts have issued reports on PANW shares. Zacks Investment Research lowered shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Deutsche Bank increased their price objective on shares of Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 24th. Stifel Nicolaus increased their price objective on shares of Palo Alto Networks from $200.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, May 30th. Wells Fargo & Co increased their price objective on shares of Palo Alto Networks from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, June 28th. Finally, Deutsche Bank increased their price objective on shares of Palo Alto Networks from $210.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, May 24th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the stock. Palo Alto Networks presently has a consensus rating of “Buy” and a consensus target price of $204.40.

In related news, CFO Kathleen Bonanno sold 5,818 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $199.61, for a total value of $1,161,330.98. Following the completion of the sale, the chief financial officer now directly owns 42,780 shares in the company, valued at $8,539,315.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Lee Klarich sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $214.08, for a total value of $856,320.00. Following the completion of the sale, the executive vice president now owns 384,522 shares of the company’s stock, valued at $82,318,469.76. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 73,910 shares of company stock valued at $15,307,149 and sold 242,662 shares valued at $49,447,386. 4.80% of the stock is owned by company insiders.

NYSE PANW opened at $229.03 on Wednesday. Palo Alto Networks Inc has a one year low of $135.85 and a one year high of $232.88.

Palo Alto Networks (NYSE:PANW) last issued its quarterly earnings results on Monday, June 4th. The network technology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $567.10 million during the quarter, compared to the consensus estimate of $545.79 million. Palo Alto Networks had a negative return on equity of 8.51% and a negative net margin of 8.65%. equities research analysts predict that Palo Alto Networks Inc will post -0.27 earnings per share for the current fiscal year.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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

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