Dorsey & Whitney Trust CO LLC Has $406,000 Position in Palo Alto Networks Inc (PANW)

Dorsey & Whitney Trust CO LLC lifted its holdings in Palo Alto Networks Inc (NYSE:PANW) by 64.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,803 shares of the network technology company’s stock after buying an additional 707 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Palo Alto Networks were worth $406,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PANW. Canada Pension Plan Investment Board lifted its stake in shares of Palo Alto Networks by 84.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,461,226 shares of the network technology company’s stock valued at $300,238,000 after purchasing an additional 670,016 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Palo Alto Networks by 193.7% in 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 purchasing an additional 359,685 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Palo Alto Networks by 199.8% in the 2nd quarter. First Trust Advisors LP now owns 529,520 shares of the network technology company’s stock valued at $108,800,000 after purchasing an additional 352,914 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at $65,038,000. Finally, Criterion Capital Management LLC acquired a new stake in shares of Palo Alto Networks in the 2nd quarter valued at $62,227,000. 80.72% of the stock is owned by institutional investors and hedge funds.

In other news, President Mark Anderson sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the president now owns 140,841 shares in the company, valued at approximately $32,663,844.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kathleen Bonanno sold 467 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $213.03, for a total transaction of $99,485.01. Following the transaction, the chief financial officer now owns 34,954 shares in the company, valued at approximately $7,446,250.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 289,178 shares of company stock worth $64,093,741. Insiders own 4.80% of the company’s stock.



NYSE:PANW opened at $185.41 on Friday. Palo Alto Networks Inc has a 52-week low of $135.85 and a 52-week high of $239.50. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 1.42. The stock has a market cap of $18.24 billion, a PE ratio of -337.11, a P/E/G ratio of 13.65 and a beta of 0.88.

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

Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Palo Alto Networks from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. KeyCorp lifted their price objective on shares of Palo Alto Networks from $245.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, September 7th. Rosenblatt Securities lifted their price objective on shares of Palo Alto Networks to $280.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Monness Crespi & Hardt lifted their price objective on shares of Palo Alto Networks from $235.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Palo Alto Networks to $267.00 and gave the company a “buy” rating in a research note on Friday, September 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. Palo Alto Networks presently has an average rating of “Buy” and a consensus price target of $240.94.

About Palo Alto Networks

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: Leveraged Buyout (LBO)

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

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