Wedbush Securities Inc. Has $363,000 Stake in Palo Alto Networks (PANW)

Wedbush Securities Inc. decreased its position in Palo Alto Networks (NYSE:PANW) by 56.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,998 shares of the network technology company’s stock after selling 2,543 shares during the quarter. Wedbush Securities Inc.’s holdings in Palo Alto Networks were worth $363,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PANW. Dimensional Fund Advisors LP grew its holdings in Palo Alto Networks by 1.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 90,192 shares of the network technology company’s stock worth $12,994,000 after acquiring an additional 943 shares during the last quarter. Deane Retirement Strategies Inc. bought a new stake in Palo Alto Networks during the 4th quarter worth about $1,562,000. Gillespie Robinson & Grimm Inc. bought a new stake in Palo Alto Networks during the 4th quarter worth about $266,000. Nisa Investment Advisors LLC grew its holdings in Palo Alto Networks by 42.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 10,243 shares of the network technology company’s stock worth $1,485,000 after acquiring an additional 3,071 shares during the last quarter. Finally, Atria Investments LLC grew its holdings in Palo Alto Networks by 30.3% during the 4th quarter. Atria Investments LLC now owns 2,175 shares of the network technology company’s stock worth $315,000 after acquiring an additional 506 shares during the last quarter. 82.05% of the stock is currently owned by institutional investors and hedge funds.

PANW has been the topic of a number of research analyst reports. BTIG Research increased their price objective on shares of Palo Alto Networks from $175.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Jefferies Group restated a “buy” rating and set a $206.00 target price on shares of Palo Alto Networks in a research report on Tuesday, February 27th. Cleveland Research upgraded shares of Palo Alto Networks from a “neutral” rating to a “buy” rating in a research report on Thursday, February 22nd. Deutsche Bank upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, January 23rd. Finally, Evercore ISI set a $180.00 target price on shares of Palo Alto Networks and gave the company a “buy” rating in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $182.57.

In other news, CEO Mark D. Mclaughlin sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $191.21, for a total transaction of $7,648,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nir Zuk sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $192.02, for a total transaction of $5,760,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,960 shares of company stock valued at $42,091,349. 4.80% of the stock is owned by company insiders.

NYSE PANW opened at $198.54 on Tuesday. Palo Alto Networks has a 52-week low of $112.30 and a 52-week high of $199.70.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Monday, February 26th. The network technology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.19). Palo Alto Networks had a negative return on equity of 14.74% and a negative net margin of 9.96%. The business had revenue of $542.40 million for the quarter, compared to the consensus estimate of $525.37 million. equities research analysts anticipate that Palo Alto Networks will post -0.37 earnings per share for the current fiscal year.

About Palo Alto Networks

Palo Alto Networks, Inc provides security platform solutions worldwide. Its platform includes Next-Generation Firewall that delivers application, user, and content visibility and control, as well as protection against network-based cyber threats; Advanced Endpoint Protection, which prevents cyber-attacks that exploit software vulnerabilities on various fixed, mobile, and virtual endpoints and servers; and Threat Intelligence Cloud, which offers central intelligence capabilities, security for software as a service applications, and automated delivery of preventative measures against cyber-attacks.

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

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