Regent Investment Management LLC Cuts Stock Position in Palo Alto Networks Inc (NYSE:PANW)

Regent Investment Management LLC lessened its stake in shares of Palo Alto Networks Inc (NYSE:PANW) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,100 shares of the network technology company’s stock after selling 350 shares during the period. Regent Investment Management LLC’s holdings in Palo Alto Networks were worth $835,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PANW. Senator Investment Group LP bought a new position in shares of Palo Alto Networks during the 2nd quarter valued at about $203,760,000. Renaissance Technologies LLC raised its position in Palo Alto Networks by 13.2% in the 2nd quarter. Renaissance Technologies LLC now owns 5,074,350 shares of the network technology company’s stock worth $1,033,950,000 after purchasing an additional 590,200 shares during the period. Price T Rowe Associates Inc. MD raised its position in Palo Alto Networks by 292.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 620,651 shares of the network technology company’s stock worth $126,464,000 after purchasing an additional 462,447 shares during the period. Cadian Capital Management LP raised its position in Palo Alto Networks by 41.9% in the 2nd quarter. Cadian Capital Management LP now owns 1,318,316 shares of the network technology company’s stock worth $268,620,000 after purchasing an additional 389,383 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in Palo Alto Networks by 29.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,460,690 shares of the network technology company’s stock worth $297,630,000 after purchasing an additional 332,680 shares during the period. 78.50% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on PANW. JPMorgan Chase & Co. increased their price objective on shares of Palo Alto Networks from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. SunTrust Banks began coverage on shares of Palo Alto Networks in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $246.00 price objective on the stock. Bank of America reduced their price objective on shares of Palo Alto Networks from $307.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Wells Fargo & Co reduced their price objective on shares of Palo Alto Networks from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Finally, KeyCorp reduced their price objective on shares of Palo Alto Networks from $280.00 to $250.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $260.74.

In other news, Director Mark D. Mclaughlin sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $227.43, for a total transaction of $9,097,200.00. Following the completion of the sale, the director now owns 240,236 shares of the company’s stock, valued at $54,636,873.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nir Zuk sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $226.80, for a total transaction of $2,721,600.00. Following the transaction, the executive vice president now owns 926,861 shares in the company, valued at $210,212,074.80. The disclosure for this sale can be found here. Insiders sold 117,609 shares of company stock valued at $25,486,256 in the last ninety days. 3.10% of the stock is owned by corporate insiders.

Shares of NYSE:PANW traded down $1.66 on Friday, hitting $212.61. 36,452 shares of the company were exchanged, compared to its average volume of 1,100,786. Palo Alto Networks Inc has a 1-year low of $160.08 and a 1-year high of $260.63. The stock’s 50 day moving average price is $208.24 and its 200 day moving average price is $217.52. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $20.62 billion, a P/E ratio of 335.59 and a beta of 0.99.

Palo Alto Networks (NYSE:PANW) last posted its earnings results on Wednesday, September 4th. The network technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The business had revenue of $805.80 million for the quarter, compared to analyst estimates of $803.56 million. Palo Alto Networks had a negative net margin of 2.82% and a positive return on equity of 4.82%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.28 earnings per share. On average, equities analysts predict that Palo Alto Networks Inc will post -0.05 EPS for the current fiscal year.

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.

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

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