Advisors Asset Management Inc. Grows Holdings in Palo Alto Networks Inc (PANW)

Advisors Asset Management Inc. grew its holdings in Palo Alto Networks Inc (NYSE:PANW) by 83.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,349 shares of the network technology company’s stock after purchasing an additional 1,972 shares during the quarter. Advisors Asset Management Inc.’s holdings in Palo Alto Networks were worth $894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PANW. Bank of Montreal Can raised its position in shares of Palo Alto Networks by 193.7% during the 2nd quarter. Bank of Montreal Can now owns 545,383 shares of the network technology company’s stock valued at $112,061,000 after buying an additional 359,685 shares during the period. Atria Investments LLC raised its position in shares of Palo Alto Networks by 37.0% during the 2nd quarter. Atria Investments LLC now owns 3,289 shares of the network technology company’s stock valued at $676,000 after buying an additional 889 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Palo Alto Networks by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 93,037 shares of the network technology company’s stock valued at $19,116,000 after buying an additional 1,165 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Palo Alto Networks by 2.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 33,921 shares of the network technology company’s stock valued at $6,970,000 after buying an additional 844 shares during the period. Finally, Raymond James & Associates raised its position in shares of Palo Alto Networks by 5.2% during the 2nd quarter. Raymond James & Associates now owns 166,218 shares of the network technology company’s stock valued at $34,153,000 after buying an additional 8,200 shares during the period. 80.23% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Kathleen Bonanno sold 467 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $213.03, for a total value of $99,485.01. Following the completion of the sale, the chief financial officer now directly owns 34,954 shares of the company’s stock, valued at $7,446,250.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Mark Anderson sold 30,000 shares of the business’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $231.92, for a total transaction of $6,957,600.00. Following the completion of the sale, the president now directly owns 140,841 shares of the company’s stock, valued at $32,663,844.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 219,178 shares of company stock valued at $50,090,741. 3.10% of the stock is owned by corporate insiders.

Shares of PANW stock opened at $184.24 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.93 and a quick ratio of 1.93. The firm has a market cap of $17.38 billion, a P/E ratio of -334.98, a PEG ratio of 12.94 and a beta of 1.22. Palo Alto Networks Inc has a 12 month low of $135.85 and a 12 month high of $239.50.

Palo Alto Networks (NYSE:PANW) last issued its earnings results on Thursday, September 6th. The network technology company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $658.10 million during the quarter, compared to the consensus estimate of $634.14 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up 29.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Palo Alto Networks Inc will post 0.61 earnings per share for the current year.

Several research firms have recently commented on PANW. Zacks Investment Research lowered shares of Palo Alto Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, September 12th. Deutsche Bank lifted their price target on shares of Palo Alto Networks to $265.00 and gave the company a “buy” rating in a research report on Friday, September 7th. JPMorgan Chase & Co. lifted their price target on shares of Palo Alto Networks to $282.00 and gave the company an “overweight” rating in a research report on Friday, September 7th. Credit Suisse Group lifted their price target on shares of Palo Alto Networks from $175.00 to $185.00 and gave the company an “underperform” rating in a research report on Friday, September 7th. Finally, Citigroup lifted their price target on shares of Palo Alto Networks from $237.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $240.94.

Palo Alto Networks 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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