Somerset Group LLC lessened its position in Palo Alto Networks, Inc. (NYSE:PANW) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,710 shares of the network technology company’s stock after selling 400 shares during the quarter. Palo Alto Networks comprises about 1.5% of Somerset Group LLC’s investment portfolio, making the stock its 17th biggest position. Somerset Group LLC’s holdings in Palo Alto Networks were worth $1,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PANW. First Trust Advisors LP grew its position in Palo Alto Networks by 55.1% in the 3rd quarter. First Trust Advisors LP now owns 204,302 shares of the network technology company’s stock worth $29,440,000 after purchasing an additional 72,573 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Palo Alto Networks by 32.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 95,049 shares of the network technology company’s stock worth $12,719,000 after purchasing an additional 23,292 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Palo Alto Networks by 17.3% during the 2nd quarter. Synovus Financial Corp now owns 14,361 shares of the network technology company’s stock valued at $1,919,000 after acquiring an additional 2,122 shares in the last quarter. Cambridge Trust Co. boosted its position 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 valued at $19,758,000 after acquiring an additional 44,759 shares in the last quarter. Finally, Trellus Management Company LLC acquired a new stake in shares of Palo Alto Networks during the 3rd quarter valued at about $461,000. Hedge funds and other institutional investors own 78.34% of the company’s stock.

Shares of Palo Alto Networks, Inc. (NYSE:PANW) traded down $0.80 during midday trading on Friday, hitting $150.64. 906,806 shares of the company’s stock were exchanged, compared to its average volume of 2,062,769. 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 announced its earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.06. Palo Alto Networks had a negative net margin of 11.97% and a negative return on equity of 15.77%. The company had revenue of $505.50 million during the quarter, compared to the consensus estimate of $489.36 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue was up 27.0% on a year-over-year basis. sell-side analysts anticipate that Palo Alto Networks, Inc. will post -0.37 EPS for the current year.

Several brokerages have recently weighed in on PANW. Telsey Advisory Group lifted their target price on shares of Palo Alto Networks from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday. Imperial Capital lifted their target price on shares of Palo Alto Networks from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday. Dougherty & Co lifted their target price on shares of Palo Alto Networks from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, September 28th. Jefferies Group LLC reiterated a “buy” rating and set a $183.00 target price (up from $168.00) on shares of Palo Alto Networks in a research report on Tuesday, November 21st. Finally, Sanford C. Bernstein lifted their target price on shares of Palo Alto Networks from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, November 21st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $162.72.

In related news, insider Nir Zuk sold 146,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $149.86, for a total transaction of $21,879,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark Anderson sold 44,429 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $143.10, for a total transaction of $6,357,789.90. Following the sale, the president now directly owns 176,290 shares of the company’s stock, valued at $25,227,099. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 284,744 shares of company stock valued at $42,239,296. Insiders own 4.80% of the company’s stock.

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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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