Coastal Bridge Advisors LLC Lowers Position in Palo Alto Networks, Inc. (NYSE:PANW)

Coastal Bridge Advisors LLC lessened its holdings in Palo Alto Networks, Inc. (NYSE:PANW) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,054 shares of the network technology company’s stock after selling 28 shares during the period. Coastal Bridge Advisors LLC’s holdings in Palo Alto Networks were worth $2,988,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC raised its position in Palo Alto Networks by 84.7% during the first quarter. Los Angeles Capital Management LLC now owns 6,772 shares of the network technology company’s stock valued at $2,181,000 after purchasing an additional 3,105 shares in the last quarter. Alpha Cubed Investments LLC raised its position in Palo Alto Networks by 4.3% during the second quarter. Alpha Cubed Investments LLC now owns 31,877 shares of the network technology company’s stock valued at $11,828,000 after purchasing an additional 1,300 shares in the last quarter. Stephens Investment Management Group LLC raised its position in Palo Alto Networks by 1.9% during the first quarter. Stephens Investment Management Group LLC now owns 128,716 shares of the network technology company’s stock valued at $41,454,000 after purchasing an additional 2,377 shares in the last quarter. Handelsbanken Fonder AB raised its position in Palo Alto Networks by 7.5% during the second quarter. Handelsbanken Fonder AB now owns 24,135 shares of the network technology company’s stock valued at $8,955,000 after purchasing an additional 1,674 shares in the last quarter. Finally, Wesbanco Bank Inc. raised its position in Palo Alto Networks by 22.1% during the second quarter. Wesbanco Bank Inc. now owns 22,117 shares of the network technology company’s stock valued at $8,206,000 after purchasing an additional 4,006 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

NYSE PANW traded down $7.68 during mid-day trading on Wednesday, reaching $477.15. The stock had a trading volume of 22,023 shares, compared to its average volume of 1,155,013. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.91 and a quick ratio of 1.38. Palo Alto Networks, Inc. has a 1 year low of $219.34 and a 1 year high of $495.92. The stock has a market cap of $46.48 billion, a PE ratio of -92.19 and a beta of 1.40. The company has a fifty day moving average price of $411.18 and a 200 day moving average price of $371.94.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Sunday, August 22nd. The network technology company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.16. Palo Alto Networks had a negative net margin of 11.72% and a negative return on equity of 17.08%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The firm’s revenue was up 28.3% on a year-over-year basis. As a group, equities research analysts expect that Palo Alto Networks, Inc. will post -0.47 earnings per share for the current year.

PANW has been the topic of a number of recent research reports. Loop Capital raised their price objective on Palo Alto Networks from $410.00 to $475.00 and gave the company a “hold” rating in a research note on Tuesday. BMO Capital Markets raised their target price on Palo Alto Networks from $480.00 to $525.00 and gave the stock an “outperform” rating in a research note on Friday, September 10th. Credit Suisse Group raised their target price on Palo Alto Networks from $425.00 to $463.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 24th. KeyCorp raised their target price on Palo Alto Networks from $469.00 to $507.00 and gave the stock an “overweight” rating in a research note on Thursday, July 22nd. Finally, Northland Securities raised their target price on Palo Alto Networks from $460.00 to $585.00 and gave the stock an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $506.13.

In related news, Director John P. Key sold 1,000 shares of the company’s stock in a transaction on Monday, August 30th. The shares were sold at an average price of $457.87, for a total value of $457,870.00. Following the completion of the transaction, the director now owns 4,521 shares of the company’s stock, valued at approximately $2,070,030.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nir Zuk sold 12,000 shares of the company’s stock in a transaction on Thursday, July 1st. The stock was sold at an average price of $369.01, for a total transaction of $4,428,120.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,184 shares of company stock valued at $20,813,424. Insiders own 2.30% of the company’s stock.

Palo Alto Networks Company Profile

Palo Alto Networks, Inc engages in the provision of network security solutions to enterprises, service providers, and government entities. It operates through the following geographical segments: Americas; Europe, the Middle East, and Africa; and Asia Pacific and Japan. The company was founded by Nir Zuk, Rajiv Batra and Yu Ming Mao in March 2005 and is headquartered in Santa Clara, CA.

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

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