Sumitomo Mitsui Asset Management Company LTD cut its stake in Palo Alto Networks, Inc. (NYSE:PANW) by 91.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,438 shares of the network technology company’s stock after selling 64,991 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Palo Alto Networks were worth $927,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in Palo Alto Networks in the second quarter valued at approximately $415,000. First Trust Advisors LP raised its stake in shares of Palo Alto Networks by 55.1% during the 3rd quarter. First Trust Advisors LP now owns 204,302 shares of the network technology company’s stock worth $29,440,000 after buying an additional 72,573 shares during the period. Diversified Trust Co raised its stake in shares of Palo Alto Networks by 7.6% during the 2nd quarter. Diversified Trust Co now owns 1,993 shares of the network technology company’s stock worth $267,000 after buying an additional 140 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Palo Alto Networks by 32.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 95,049 shares of the network technology company’s stock worth $12,719,000 after buying an additional 23,292 shares during the period. Finally, Heritage Investors Management Corp raised its stake in shares of Palo Alto Networks by 51.3% during the 2nd quarter. Heritage Investors Management Corp now owns 37,631 shares of the network technology company’s stock worth $5,035,000 after buying an additional 12,759 shares during the period. 76.85% of the stock is owned by institutional investors.

Palo Alto Networks, Inc. (NYSE:PANW) opened at $147.99 on Tuesday. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $165.69. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.69.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings data on Thursday, August 31st. The network technology company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.92). Palo Alto Networks had a negative net margin of 12.57% and a negative return on equity of 19.72%. The business had revenue of $509.00 million during the quarter, compared to analysts’ expectations of $487.53 million. During the same quarter in the previous year, the company posted $0.50 EPS. The company’s revenue was up 27.0% compared to the same quarter last year. equities analysts anticipate that Palo Alto Networks, Inc. will post -0.49 EPS for the current year.

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In related news, President Mark Anderson sold 44,429 shares of the firm’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 transaction, the president now owns 176,290 shares in the company, valued at approximately $25,227,099. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nir Zuk sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $144.69, for a total value of $289,380.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 256,744 shares of company stock worth $38,093,896. Company insiders own 4.80% of the company’s stock.

PANW has been the subject of several research reports. Piper Jaffray Companies set a $146.00 price target on Palo Alto Networks and gave the stock a “buy” rating in a research report on Friday, August 25th. BidaskClub cut Palo Alto Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Maxim Group reiterated a “buy” rating and set a $195.00 price target (up from $168.00) on shares of Palo Alto Networks in a research report on Thursday, September 28th. Rosenblatt Securities reiterated a “buy” rating and set a $160.00 price target on shares of Palo Alto Networks in a research report on Friday, September 1st. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $173.00 price target on shares of Palo Alto Networks in a research report on Monday, August 28th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirty have given a buy rating to the company. Palo Alto Networks currently has an average rating of “Buy” and an average price target of $160.33.

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.

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

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