Darrell & King LLC trimmed its stake in Palo Alto Networks Inc (NYSE:PANW) by 2.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,870 shares of the network technology company’s stock after selling 6,050 shares during the period. Palo Alto Networks accounts for approximately 4.7% of Darrell & King LLC’s holdings, making the stock its largest position. Darrell & King LLC owned about 0.30% of Palo Alto Networks worth $49,531,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PANW. FTB Advisors Inc. boosted its holdings in Palo Alto Networks by 531.0% in the 1st quarter. FTB Advisors Inc. now owns 1,830 shares of the network technology company’s stock worth $331,000 after buying an additional 1,540 shares during the period. Engineers Gate Manager LP boosted its holdings in Palo Alto Networks by 11.9% in the 1st quarter. Engineers Gate Manager LP now owns 40,984 shares of the network technology company’s stock worth $7,439,000 after buying an additional 4,358 shares during the period. Macquarie Group Ltd. boosted its holdings in Palo Alto Networks by 189.8% in the 4th quarter. Macquarie Group Ltd. now owns 91,900 shares of the network technology company’s stock worth $14,448,000 after buying an additional 60,187 shares during the period. Scout Investments Inc. boosted its holdings in Palo Alto Networks by 61.9% in the 1st quarter. Scout Investments Inc. now owns 104,991 shares of the network technology company’s stock worth $19,058,000 after buying an additional 40,133 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in Palo Alto Networks by 53.0% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 27,412 shares of the network technology company’s stock worth $3,973,000 after buying an additional 9,491 shares during the period. Hedge funds and other institutional investors own 82.12% of the company’s stock.

Shares of Palo Alto Networks opened at $209.15 on Friday, according to Marketbeat Ratings. The stock has a market cap of $18.77 billion, a PE ratio of -122.31 and a beta of 0.94. Palo Alto Networks Inc has a 12-month low of $115.01 and a 12-month high of $210.40.

Palo Alto Networks (NYSE:PANW) last announced its earnings results on Monday, February 26th. The network technology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.19). The business had revenue of $542.40 million for the quarter, compared to analysts’ expectations of $525.37 million. Palo Alto Networks had a negative net margin of 9.96% and a negative return on equity of 14.74%. sell-side analysts anticipate that Palo Alto Networks Inc will post -0.37 earnings per share for the current fiscal year.

In related news, EVP Nir Zuk sold 30,000 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $181.65, for a total value of $5,449,500.00. Following the sale, the executive vice president now directly owns 1,384,919 shares of the company’s stock, valued at approximately $251,570,536.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark D. Mclaughlin sold 55,000 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $180.52, for a total transaction of $9,928,600.00. Following the completion of the sale, the chief executive officer now directly owns 341,418 shares in the company, valued at $61,632,777.36. The disclosure for this sale can be found here. Insiders sold a total of 228,960 shares of company stock worth $42,091,349 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

Several brokerages recently weighed in on PANW. Deutsche Bank upped their target price on shares of Palo Alto Networks from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada upped their target price on shares of Palo Alto Networks to $220.00 and gave the stock an “outperform” rating in a report on Wednesday. Gabelli downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating and set a $188.00 target price for the company. in a report on Monday, April 30th. They noted that the move was a valuation call. ValuEngine raised shares of Palo Alto Networks from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Monness Crespi & Hardt upped their target price on shares of Palo Alto Networks from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, March 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirty-seven have given a buy rating to the company. Palo Alto Networks has an average rating of “Buy” and an average price target of $184.06.

About Palo Alto Networks

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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