Tradewinds Capital Management LLC continued to hold its position in shares of Palo Alto Networks, Inc. (NYSE:PANW) during the second quarter, Holdings Channel reports. The institutional investor owned 2,080 shares of the network technology company’s stock at the end of the second quarter. Tradewinds Capital Management LLC’s holdings in Palo Alto Networks were worth $278,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Trexquant Investment LP acquired a new stake in shares of Palo Alto Networks during the second quarter worth approximately $1,659,000. Global X Management Co. LLC raised its stake in shares of Palo Alto Networks by 24.4% in the second quarter. Global X Management Co. LLC now owns 1,168 shares of the network technology company’s stock worth $156,000 after buying an additional 229 shares during the period. BP PLC raised its stake in shares of Palo Alto Networks by 163.6% in the second quarter. BP PLC now owns 29,000 shares of the network technology company’s stock worth $3,882,000 after buying an additional 18,000 shares during the period. Seven Bridges Advisors LLC raised its stake in shares of Palo Alto Networks by 11.2% in the second quarter. Seven Bridges Advisors LLC now owns 1,702 shares of the network technology company’s stock worth $228,000 after buying an additional 172 shares during the period. Finally, TD Asset Management Inc. raised its stake in shares of Palo Alto Networks by 980.3% in the second quarter. TD Asset Management Inc. now owns 58,951 shares of the network technology company’s stock worth $7,888,000 after buying an additional 53,494 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Palo Alto Networks, Inc. (NYSE:PANW) opened at 129.89 on Thursday. The company’s market cap is $11.93 billion. Palo Alto Networks, Inc. has a 52-week low of $107.31 and a 52-week high of $165.69. The firm’s 50-day moving average price is $135.65 and its 200-day moving average price is $128.43.

Palo Alto Networks (NYSE:PANW) last released its quarterly earnings results on Wednesday, May 31st. The network technology company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.06. Palo Alto Networks had a negative net margin of 14.38% and a negative return on equity of 23.77%. The firm had revenue of $431.80 million during the quarter, compared to the consensus estimate of $412.11 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, equities analysts anticipate that Palo Alto Networks, Inc. will post $2.59 EPS for the current year.

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PANW has been the topic of several research reports. Piper Jaffray Companies set a $156.00 target price on Palo Alto Networks and gave the company a “buy” rating in a research note on Thursday, June 1st. Cowen and Company restated an “outperform” rating and issued a $150.00 target price on shares of Palo Alto Networks in a research note on Thursday, May 25th. FBN Securities lowered Palo Alto Networks from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $135.00 to $115.00 in a research note on Monday, April 17th. Vetr upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $140.90 target price on the stock in a research note on Monday, July 3rd. Finally, Gabelli upgraded Palo Alto Networks from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $150.94.

In other Palo Alto Networks news, Director James J. Goetz sold 30,000 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $137.97, for a total value of $4,139,100.00. Following the completion of the sale, the director now owns 271,645 shares in the company, valued at approximately $37,478,860.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is owned by corporate insiders.

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.

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

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