Shell Asset Management Co. decreased its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 8.9% during the second quarter, Holdings Channel reports. The firm owned 5,401 shares of the network technology company’s stock after selling 530 shares during the period. Shell Asset Management Co.’s holdings in Palo Alto Networks were worth $723,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SFE Investment Counsel increased its position in Palo Alto Networks by 28.2% in the first quarter. SFE Investment Counsel now owns 30,442 shares of the network technology company’s stock valued at $3,430,000 after buying an additional 6,695 shares during the period. Telemus Capital LLC increased its position in Palo Alto Networks by 84.3% in the first quarter. Telemus Capital LLC now owns 13,115 shares of the network technology company’s stock valued at $1,478,000 after buying an additional 6,000 shares during the period. Regent Investment Management LLC bought a new position in Palo Alto Networks during the first quarter valued at $1,503,000. Heritage Investors Management Corp increased its position in Palo Alto Networks by 53.7% in the first quarter. Heritage Investors Management Corp now owns 24,872 shares of the network technology company’s stock valued at $2,803,000 after buying an additional 8,695 shares during the period. Finally, Cornerstone Financial Partners LLC increased its position in Palo Alto Networks by 34.1% in the first quarter. Cornerstone Financial Partners LLC now owns 10,423 shares of the network technology company’s stock valued at $1,175,000 after buying an additional 2,650 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Shares of Palo Alto Networks, Inc. (NYSE PANW) opened at 128.84 on Friday. The company’s 50-day moving average is $135.30 and its 200 day moving average is $128.34. The firm’s market capitalization is $11.83 billion. 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 Wednesday, May 31st. The network technology company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm had revenue of $431.80 million for the quarter, compared to the consensus estimate of $412.11 million. During the same period in the prior year, the firm posted $0.42 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. Analysts anticipate that Palo Alto Networks, Inc. will post $2.59 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was published by Watch List News and is the property of of Watch List News. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.watchlistnews.com/palo-alto-networks-inc-nysepanw-shares-sold-by-shell-asset-management-co/1476478.html.

A number of research firms have commented on PANW. BidaskClub upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. UBS AG reiterated a “neutral” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Palo Alto Networks in a report on Monday, June 5th. Susquehanna Bancshares Inc began coverage on shares of Palo Alto Networks in a report on Wednesday, June 7th. They issued a “neutral” rating and a $145.00 price objective for the company. Barclays PLC reiterated an “overweight” rating and issued a $158.00 price objective (up previously from $145.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $147.00 price objective (up previously from $130.00) on shares of Palo Alto Networks in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $150.94.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the stock in a transaction on Monday, July 10th. The shares were sold at an average price of $137.97, for a total transaction of $4,139,100.00. Following the transaction, the director now directly owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.80% of the company’s stock.

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.

Want to see what other hedge funds are holding PANW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Palo Alto Networks, Inc. (NYSE:PANW).

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

Receive News & Ratings for Palo Alto Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palo Alto Networks Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.