California State Teachers Retirement System trimmed its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 148,827 shares of the network technology company’s stock after selling 15,018 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Palo Alto Networks worth $21,446,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Palo Alto Networks during the 3rd quarter valued at about $230,000. Pinebridge Investments L.P. purchased a new stake in shares of Palo Alto Networks during the 3rd quarter valued at about $2,229,000. OxFORD Asset Management LLP purchased a new stake in shares of Palo Alto Networks during the 3rd quarter valued at about $835,000. Westfield Capital Management Co. LP boosted its holdings in shares of Palo Alto Networks by 229.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 285,691 shares of the network technology company’s stock valued at $41,168,000 after acquiring an additional 198,937 shares during the last quarter. Finally, Formula Growth Ltd. boosted its holdings in shares of Palo Alto Networks by 28.3% during the 3rd quarter. Formula Growth Ltd. now owns 95,752 shares of the network technology company’s stock valued at $13,798,000 after acquiring an additional 21,100 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Shares of Palo Alto Networks, Inc. (NYSE:PANW) opened at $148.94 on Wednesday. Palo Alto Networks, Inc. has a one year low of $107.31 and a one year high of $157.65.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.06. The firm had revenue of $505.50 million during the quarter, compared to analyst estimates of $489.36 million. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The business’s revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 earnings per share. analysts expect that Palo Alto Networks, Inc. will post -0.37 earnings per share for the current year.

PANW has been the topic of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $160.00 price objective on shares of Palo Alto Networks in a research note on Friday, September 1st. Oppenheimer reiterated a “buy” rating and issued a $180.00 price objective (up previously from $173.00) on shares of Palo Alto Networks in a research note on Tuesday, November 21st. Citigroup reiterated a “buy” rating and issued a $168.00 price objective (up previously from $160.00) on shares of Palo Alto Networks in a research note on Friday, September 1st. UBS set a $140.00 price objective on shares of Palo Alto Networks and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Finally, Maxim Group reiterated a “buy” rating and issued a $168.00 price objective on shares of Palo Alto Networks in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $162.84.

In related news, insider Nir Zuk sold 146,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $149.86, for a total value of $21,879,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley J. Meresman sold 2,000 shares of Palo Alto Networks stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $151.01, for a total value of $302,020.00. The disclosure for this sale can be found here. Insiders sold 350,387 shares of company stock valued at $52,236,060 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

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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.

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

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