Ropes Wealth Advisors LLC increased its position in shares of Palo Alto Networks Inc (NYSE:PANW) by 62.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,305 shares of the network technology company’s stock after buying an additional 500 shares during the period. Ropes Wealth Advisors LLC’s holdings in Palo Alto Networks were worth $266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PANW. Alpha Omega Wealth Management LLC bought a new stake in Palo Alto Networks in the 1st quarter valued at $26,000. Manchester Capital Management LLC bought a new stake in Palo Alto Networks in the 1st quarter valued at $26,000. C J Advisory Inc bought a new stake in Palo Alto Networks in the 1st quarter valued at $30,000. Cable Hill Partners LLC boosted its holdings in Palo Alto Networks by 226.1% in the 1st quarter. Cable Hill Partners LLC now owns 150 shares of the network technology company’s stock valued at $37,000 after purchasing an additional 104 shares during the period. Finally, Arrow Financial Corp bought a new stake in Palo Alto Networks in the 1st quarter valued at $40,000. 79.51% of the stock is owned by institutional investors and hedge funds.

PANW traded down $4.99 during midday trading on Wednesday, hitting $217.47. The company had a trading volume of 6,724 shares, compared to its average volume of 1,254,346. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market capitalization of $20.76 billion, a P/E ratio of -393.75, a PEG ratio of 7.30 and a beta of 0.90. Palo Alto Networks Inc has a twelve month low of $160.08 and a twelve month high of $260.63. The firm has a 50-day moving average price of $216.20.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Wednesday, May 29th. The network technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). The company had revenue of $726.60 million during the quarter, compared to analyst estimates of $704.89 million. Palo Alto Networks had a negative net margin of 2.30% and a positive return on equity of 5.42%. The company’s revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.99 EPS. On average, research analysts anticipate that Palo Alto Networks Inc will post 0.87 EPS for the current fiscal year.

A number of analysts have weighed in on PANW shares. BMO Capital Markets reduced their price target on shares of Palo Alto Networks from $285.00 to $250.00 and set a “market perform” rating for the company in a report on Thursday, May 30th. Cowen started coverage on shares of Palo Alto Networks in a report on Thursday, May 23rd. They issued a “market perform” rating and a $230.00 price target for the company. ValuEngine downgraded shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. Wells Fargo & Co reduced their price target on shares of Palo Alto Networks from $325.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Finally, Deutsche Bank reduced their price target on shares of Palo Alto Networks from $305.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Palo Alto Networks currently has an average rating of “Buy” and a consensus target price of $263.03.

In other Palo Alto Networks news, CFO Kathleen Bonanno sold 7,210 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $200.00, for a total value of $1,442,000.00. Following the completion of the sale, the chief financial officer now owns 31,796 shares in the company, valued at approximately $6,359,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $197.17, for a total transaction of $7,886,800.00. Following the completion of the sale, the director now owns 245,221 shares of the company’s stock, valued at approximately $48,350,224.57. The disclosure for this sale can be found here. Insiders sold a total of 186,092 shares of company stock valued at $39,067,840 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc provides security platform solutions worldwide. The company provides firewall appliances and software; Panorama, a security management solution for the control of appliances deployed on an end-customer's network as a virtual or a physical appliance; and Virtual System Upgrades, which are available as extensions to the virtual system capacity that ships with physical appliances.

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

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