Palo Alto Networks, Inc. (NYSE:PANW) Stake Lowered by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. reduced its stake in shares of Palo Alto Networks, Inc. (NYSE:PANW) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,173 shares of the network technology company’s stock after selling 2,848 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.05% of Palo Alto Networks worth $6,654,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in Palo Alto Networks by 55.1% during the third 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 in the last quarter. Parametric Portfolio Associates LLC raised its position in Palo Alto Networks by 32.5% during the second quarter. Parametric Portfolio Associates LLC now owns 95,049 shares of the network technology company’s stock worth $12,719,000 after acquiring an additional 23,292 shares during the last quarter. Synovus Financial Corp raised its position in Palo Alto Networks by 17.3% during the second quarter. Synovus Financial Corp now owns 14,361 shares of the network technology company’s stock worth $1,919,000 after acquiring an additional 2,122 shares during the last quarter. Trellus Management Company LLC acquired a new position in Palo Alto Networks during the third quarter worth about $461,000. Finally, Sirios Capital Management L P acquired a new position in Palo Alto Networks during the second quarter worth about $40,567,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

In other news, CEO Mark D. Mclaughlin sold 25,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $149.85, for a total value of $3,746,250.00. Following the transaction, the chief executive officer now owns 374,919 shares of the company’s stock, valued at $56,181,612.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark D. Mclaughlin sold 35,000 shares of Palo Alto Networks stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $149.70, for a total transaction of $5,239,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 346,785 shares of company stock worth $51,471,366. Insiders own 4.80% of the company’s stock.

PANW has been the subject of a number of analyst reports. BidaskClub lowered shares of Palo Alto Networks from a “sell” rating to a “strong sell” rating in a research report on Friday, August 11th. ValuEngine raised shares of Palo Alto Networks from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Imperial Capital reaffirmed an “outperform” rating and set a $137.00 price target on shares of Palo Alto Networks in a research report on Friday, August 18th. Piper Jaffray Companies set a $146.00 price target on shares of Palo Alto Networks and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Oppenheimer reiterated an “outperform” rating and set a $173.00 price objective on shares of Palo Alto Networks in a research note on Monday, August 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $162.84.

Palo Alto Networks, Inc. (NYSE:PANW) traded down $1.45 during midday trading on Wednesday, hitting $141.37. 1,719,513 shares of the stock were exchanged, compared to its average volume of 1,771,524. Palo Alto Networks, Inc. has a 1-year low of $107.31 and a 1-year high of $157.65.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Monday, November 20th. The network technology company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.06. The business 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 firm’s revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. research analysts anticipate that Palo Alto Networks, Inc. will post -0.37 EPS for the current fiscal year.

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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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