Rothschild Investment Corp IL Sells 5,065 Shares of Palo Alto Networks Inc (PANW)

Rothschild Investment Corp IL reduced its holdings in Palo Alto Networks Inc (NYSE:PANW) by 13.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 32,555 shares of the network technology company’s stock after selling 5,065 shares during the period. Rothschild Investment Corp IL’s holdings in Palo Alto Networks were worth $7,333,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Manhattan Co. purchased a new position in shares of Palo Alto Networks in the 3rd quarter worth $106,000. Banco de Sabadell S.A purchased a new position in shares of Palo Alto Networks during the 2nd quarter worth about $103,000. CIBC Private Wealth Group LLC boosted its stake in shares of Palo Alto Networks by 2,475.0% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 515 shares of the network technology company’s stock worth $106,000 after purchasing an additional 495 shares during the period. NEXT Financial Group Inc purchased a new position in shares of Palo Alto Networks during the 3rd quarter worth about $125,000. Finally, LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Palo Alto Networks during the 2nd quarter worth about $123,000. 80.65% of the stock is owned by institutional investors and hedge funds.

In other news, CFO Kathleen Bonanno sold 1,097 shares of the business’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $208.77, for a total value of $229,020.69. Following the completion of the sale, the chief financial officer now owns 35,882 shares in the company, valued at approximately $7,491,085.14. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stanley J. Meresman sold 1,979 shares of the business’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $234.22, for a total transaction of $463,521.38. Following the completion of the sale, the director now owns 5,716 shares of the company’s stock, valued at approximately $1,338,801.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 290,275 shares of company stock valued at $64,322,762. Company insiders own 4.80% of the company’s stock.

Palo Alto Networks stock traded up $0.97 during trading hours on Wednesday, hitting $205.97. The company had a trading volume of 60,248 shares, compared to its average volume of 1,371,009. The stock has a market cap of $21.13 billion, a price-to-earnings ratio of -371.58, a price-to-earnings-growth ratio of 15.82 and a beta of 0.88. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.93 and a quick ratio of 1.93. Palo Alto Networks Inc has a 1 year low of $135.85 and a 1 year high of $239.50.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings results on Thursday, September 6th. The network technology company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.17 by $0.11. Palo Alto Networks had a negative net margin of 6.51% and a negative return on equity of 4.12%. The business had revenue of $658.10 million during the quarter, compared to analyst estimates of $634.14 million. During the same quarter in the previous year, the business posted $0.92 EPS. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. Research analysts expect that Palo Alto Networks Inc will post 0.61 earnings per share for the current year.

PANW has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Palo Alto Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. UBS Group lifted their price target on shares of Palo Alto Networks from $212.00 to $232.00 and gave the stock a “neutral” rating in a research note on Friday, September 7th. Citigroup lifted their price target on shares of Palo Alto Networks from $237.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Royal Bank of Canada lifted their price target on shares of Palo Alto Networks to $250.00 in a research note on Friday, September 7th. Finally, Evercore ISI reaffirmed a “buy” rating and set a $270.00 price target on shares of Palo Alto Networks in a research note on Friday, September 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $239.51.

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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