Prentiss Smith & Co. Inc. boosted its holdings in Palo Alto Networks Inc (NYSE:PANW) by 16.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 26,003 shares of the network technology company’s stock after buying an additional 3,748 shares during the period. Palo Alto Networks accounts for approximately 3.5% of Prentiss Smith & Co. Inc.’s holdings, making the stock its 12th biggest position. Prentiss Smith & Co. Inc.’s holdings in Palo Alto Networks were worth $5,298,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PANW. Comerica Securities Inc. increased its holdings in shares of Palo Alto Networks by 3.5% during the 4th quarter. Comerica Securities Inc. now owns 3,103 shares of the network technology company’s stock worth $584,000 after acquiring an additional 105 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Palo Alto Networks by 4.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 103,149 shares of the network technology company’s stock worth $19,425,000 after acquiring an additional 4,496 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Palo Alto Networks by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 810,984 shares of the network technology company’s stock worth $152,637,000 after acquiring an additional 32,284 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Palo Alto Networks by 261.2% during the 4th quarter. Principal Financial Group Inc. now owns 48,291 shares of the network technology company’s stock worth $9,096,000 after acquiring an additional 34,922 shares during the last quarter. Finally, Suntrust Banks Inc. increased its holdings in shares of Palo Alto Networks by 5.1% during the 4th quarter. Suntrust Banks Inc. now owns 6,405 shares of the network technology company’s stock worth $1,206,000 after acquiring an additional 309 shares during the last quarter. Institutional investors and hedge funds own 78.94% of the company’s stock.

In related news, Director Mark D. Mclaughlin sold 950 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $250.05, for a total transaction of $237,547.50. Following the completion of the sale, the director now directly owns 206,171 shares in the company, valued at approximately $51,553,058.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kathleen Bonanno sold 1,609 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $224.00, for a total value of $360,416.00. Following the sale, the chief financial officer now owns 28,572 shares of the company’s stock, valued at $6,400,128. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,392 shares of company stock valued at $46,533,005. 3.10% of the stock is owned by corporate insiders.

Shares of PANW stock traded up $3.63 on Friday, hitting $227.03. 867,667 shares of the company’s stock were exchanged, compared to its average volume of 926,189. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.86 and a current ratio of 1.86. Palo Alto Networks Inc has a 12 month low of $160.08 and a 12 month high of $260.63. The company has a market capitalization of $21.44 billion, a PE ratio of -412.78, a P/E/G ratio of 10.97 and a beta of 0.91. The stock’s 50 day moving average is $209.93.

Palo Alto Networks (NYSE:PANW) last announced 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). Palo Alto Networks had a positive return on equity of 5.42% and a negative net margin of 2.30%. The business had revenue of $726.60 million for the quarter, compared to the consensus estimate of $704.89 million. During the same quarter in the prior year, the company earned $0.99 earnings per share. Palo Alto Networks’s quarterly revenue was up 28.0% compared to the same quarter last year. As a group, analysts predict that Palo Alto Networks Inc will post 0.87 EPS for the current fiscal year.

Several analysts recently issued reports on the company. Northland Securities restated a “hold” rating and issued a $240.00 price target on shares of Palo Alto Networks in a research note on Thursday, May 30th. BMO Capital Markets upgraded Tourmaline Oil from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 30th. Raymond James restated an “outperform” rating and issued a $36.00 price target on shares of Zymeworks in a research note on Thursday, May 30th. JMP Securities boosted their price target on Veeva Systems from $122.00 to $153.00 and gave the company a “market outperform” rating in a research note on Thursday, May 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 1,370 ($17.90) price target on shares of in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $263.03.

About Palo Alto Networks

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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