Palo Alto Networks Inc (PANW) Stake Lessened by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in Palo Alto Networks Inc (NYSE:PANW) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,143 shares of the network technology company’s stock after selling 4,482 shares during the quarter. Alliancebernstein L.P.’s holdings in Palo Alto Networks were worth $13,323,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PANW. Advisors Capital Management LLC raised its stake in Palo Alto Networks by 1.3% during the third quarter. Advisors Capital Management LLC now owns 19,705 shares of the network technology company’s stock worth $4,439,000 after acquiring an additional 246 shares during the period. Tradewinds Capital Management LLC raised its stake in Palo Alto Networks by 12.0% during the second quarter. Tradewinds Capital Management LLC now owns 2,330 shares of the network technology company’s stock worth $479,000 after acquiring an additional 250 shares during the period. ACG Wealth raised its stake in Palo Alto Networks by 15.8% during the third quarter. ACG Wealth now owns 1,901 shares of the network technology company’s stock worth $428,000 after acquiring an additional 260 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Palo Alto Networks by 10.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,102 shares of the network technology company’s stock worth $637,000 after acquiring an additional 305 shares during the period. Finally, Coastline Trust Co raised its stake in Palo Alto Networks by 19.3% during the third quarter. Coastline Trust Co now owns 1,918 shares of the network technology company’s stock worth $432,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 80.83% of the company’s stock.

Palo Alto Networks stock opened at $181.78 on Friday. The company has a quick ratio of 1.93, a current ratio of 2.10 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $16.82 billion, a PE ratio of -330.51, a P/E/G ratio of 10.63 and a beta of 1.14. Palo Alto Networks Inc has a 12-month low of $140.75 and a 12-month high of $239.50.

Palo Alto Networks (NYSE:PANW) last posted its quarterly earnings data on Thursday, November 29th. The network technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $656.00 million during the quarter, compared to analysts’ expectations of $632.16 million. Palo Alto Networks had a negative net margin of 5.04% and a negative return on equity of 1.72%. The business’s revenue was up 30.7% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. As a group, sell-side analysts anticipate that Palo Alto Networks Inc will post 0.71 EPS for the current fiscal year.

Several equities research analysts recently weighed in on PANW shares. Raymond James reiterated a “buy” rating on shares of Palo Alto Networks in a research note on Sunday, December 2nd. UBS Group increased their price objective 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 increased their price objective 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. First Analysis upgraded shares of Palo Alto Networks from an “outperform” rating to a “strong-buy” rating and set a $240.00 price objective on the stock in a research note on Friday, November 30th. Finally, Zacks Investment Research upgraded shares of Palo Alto Networks from a “hold” rating to a “buy” rating and set a $201.00 price objective on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the stock. Palo Alto Networks currently has an average rating of “Buy” and a consensus price target of $239.94.

In other news, President Mark Anderson sold 28,814 shares of the stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $218.43, for a total value of $6,293,842.02. Following the completion of the transaction, the president now directly owns 130,841 shares in the company, valued at $28,579,599.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lee Klarich sold 8,000 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $231.91, for a total transaction of $1,855,280.00. The disclosure for this sale can be found here. Insiders sold 256,669 shares of company stock valued at $55,480,042 over the last quarter. Insiders own 3.10% of the company’s stock.

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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.

Further Reading: S&P 500 Index

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

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